Advanced Search
MyIDEAS: Login to save this article or follow this journal

One trading world, or many: the issue of regional trading blocs

Contents:

Author Info

  • Norman S. Fieleke
Registered author(s):

    Abstract

    Over the past several decades, more and more countries have entered into preferential trading arrangements, provoking concern that the benefits of free trade are being sacrificed to growing discrimination. Just how widespread is this discrimination in international trade, and is it "legitimate" under the codes of international behavior to which countries generally subscribe? What does economic theory tell us about the likely consequences of such discrimination, and why do so many nations engage in it? ; The author finds that most of the preferential trading arrangements, accounting for about two-thirds of world trade, have increasingly resembled "trading blocs," in that their trade has become oriented more inward, among the members, and less outward, with the rest of the world. Over the long run, he points out, nondiscriminatory reductions in trade barriers are clearly preferable to discriminatory reductions. But should global negotiations fail, blocs that truly liberalized trade among themselves could improve the general welfare. To set the best example for the rest of the trading world, they should be receptive to new members, for the ideal free trade area is worldwide in scope.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.bostonfed.org/economic/neer/neer1992/neer392a.pdf
    Download Restriction: no

    Bibliographic Info

    Article provided by Federal Reserve Bank of Boston in its journal New England Economic Review.

    Volume (Year): (1992)
    Issue (Month): May ()
    Pages: 3-20

    as in new window
    Handle: RePEc:fip:fedbne:y:1992:i:may:p:3-20

    Contact details of provider:
    Postal: 600 Atlantic Avenue, Boston, Massachusetts 02210
    Phone: 617-973-3397
    Fax: 617-973-4221
    Email:
    Web page: http://www.bos.frb.org/
    More information through EDIRC

    Order Information:
    Email:

    Related research

    Keywords: International trade;

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. Jeffrey J. Schott, 1991. "Trading Blocs and the World Trading System," The World Economy, Wiley Blackwell, vol. 14(1), pages 1-18, 03.
    2. Carsten Kowalczyk, 1990. "Welfare and Customs Unions," NBER Working Papers 3476, National Bureau of Economic Research, Inc.
    3. Thoumi, Francisco E., 1989. "Bilateral trade flows and economic integration in Latin America and the Caribbean," World Development, Elsevier, vol. 17(3), pages 421-429, March.
    4. X.P. Guma, 1990. "The Revised Southern African Customs Union Agreement: An Appraisal," South African Journal of Economics, Economic Society of South Africa, vol. 58(1), pages 36-44, 03.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as in new window

    Cited by:
    1. Frankel, Jeffrey & Stein, Ernesto & Wei, Shang-jin, 1995. "Trading blocs and the Americas: The natural, the unnatural, and the super-natural," Journal of Development Economics, Elsevier, vol. 47(1), pages 61-95, June.
    2. Jones, Michael, 1995. "Bilateralism on balance," International Review of Economics & Finance, Elsevier, vol. 4(1), pages 37-56.
    3. Wei, Shang-Jin & Frankel, Jeffrey A., 1996. "Can regional blocs be a stepping stone to global free trade? a political economy analysis," International Review of Economics & Finance, Elsevier, vol. 5(4), pages 339-347.

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:fip:fedbne:y:1992:i:may:p:3-20. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Catherine Spozio).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.