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On the Interpretation of the Kemp/Wan Theorem

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Richardson, Martin

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Abstract

This note considers the well-known theorem of M. Kemp and H. Wan concerning the welfare gains from the formation of customs unions. The author argues that the theorem may not imply that a union can unilaterally guarantee a welfare gain if nonmembers set tariffs optimally against the union. He provides an example in which a customs union cannot improve the joint welfare of members. Copyright 1995 by Royal Economic Society.

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Publisher Info
Article provided by Oxford University Press in its journal Oxford Economic Papers.

Volume (Year): 47 (1995)
Issue (Month): 4 (October)
Pages: 696-703
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Handle: RePEc:oup:oxecpp:v:47:y:1995:i:4:p:696-703

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  1. Bond, Eric W & Syropoulos, Costas & Winters, L. Alan, 2000. "Deepening of Regional Integration and Multilateral Trade Agreements," CEPR Discussion Papers 2480, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  2. Raimondos-Moller, Pascalis & Woodland, Alan D., 2004. "Non-Preferential Trading Clubs," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
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  3. Fritz Breuss, . "A Prototype Model of EU's 2007 Enlargement," FIW Working Paper series 007, FIW. [Downloadable!]
  4. Pascalis Raimondos-Møller & Alan D. Woodland, 1997. "Tariff strategies and small open economies," CIE Discussion Papers 1997-23, University of Copenhagen. Department of Economics. Centre for Industrial Economics. [Downloadable!]
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