Regional Cooperation among Microstates
AbstractOwing to their low bargaining power and high negotiation costs, microstates face severe disadvantages when dealing with the outside world. Forming a group with neighboring nations might be an effective instrument to address this problem. This paper presents a model in which the decision to form, expand or join a regional club is based on negotiation costs and bargaining power rather than on the traditional costs and benefits of trade integration. The model is used to determine the optimal and the equilibrium group size under various entry conditions. The welfare implications of the entry conditions are also examined. Copyright 2001 by Blackwell Publishing Ltd.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Review of International Economics.
Volume (Year): 9 (2001)
Issue (Month): 1 (February)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0965-7576
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- Vinokurov, Evgeny, 2009. "EDB Eurasian Integration Yearbook 2009," MPRA Paper 20917, University Library of Munich, Germany.
- Patrizia Tumbarello, 2005. "Regional Trade Integration and WTO Accession: Which is the Right Sequencing? An Application to the CIS," IMF Working Papers 05/94, International Monetary Fund.
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