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Open Regionalism in a World of Continental Trade Blocs

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Author Info
Shang-Jin Wei (International Monetary Fund)
Jeffrey A. Frankel (International Monetary Fund)

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Abstract

Continental trade blocs are emerging in many parts of the world almost in tandem. If trade blocs are required to satisfy the McMillan criterion of not lowering their trade volume with outside countries, they have to engage in a dramatic reduction of trade barriers against nonmember countries. That may not be politically feasible. On the other hand, in a world of simultaneous trade blocs, an open regionalism in which trade blocs undertake relatively modest external liberalization can usually produce Pareto improvement. Copyright 1998, International Monetary Fund

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Article provided by Palgrave Macmillan Journals in its journal IMF Staff Papers.

Volume (Year): 45 (1998)
Issue (Month): 3 ()
Pages: 2
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Handle: RePEc:pal:imfstp:v:45:y:1998:i:3:p:2

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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.:
  1. Krugman, Paul, 1980. "Scale Economies, Product Differentiation, and the Pattern of Trade," American Economic Review, American Economic Association, vol. 70(5), pages 950-59, December. [Downloadable!] (restricted)
  2. Bhagwati, Jagdish N, 1971. "Trade-Diverting Customs Unions and Welfare Improvement: a Clarification," Economic Journal, Royal Economic Society, vol. 81(323), pages 580-87, September. [Downloadable!] (restricted)
  3. 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. [Downloadable!] (restricted)
  4. Baldwin, Richard E, 1992. "Measurable Dynamic Gains from Trade," Journal of Political Economy, University of Chicago Press, vol. 100(1), pages 162-74, February. [Downloadable!] (restricted)
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  5. Deardorff, Alan V., 1984. "Testing trade theories and predicting trade flows," Handbook of International Economics, in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 1, chapter 10, pages 467-517 Elsevier. [Downloadable!] (restricted)
  6. Bergstrand, Jeffrey H, 1989. "The Generalized Gravity Equation, Monopolistic Competition, and the Factor-Proportions Theory in International Trade," The Review of Economics and Statistics, MIT Press, vol. 71(1), pages 143-53, February. [Downloadable!] (restricted)
  7. Lawrence H. Summers, 1991. "Regionalism and the world trading system," Proceedings, Federal Reserve Bank of Kansas City, pages 295-301.
  8. Helpman, Elhanan, 1987. "Imperfect competition and international trade: Evidence from fourteen industrial countries," Journal of the Japanese and International Economies, Elsevier, vol. 1(1), pages 62-81, March. [Downloadable!] (restricted)
  9. Jeffrey Frankel, Ernesto Stein and Shang-jin Wei., 1994. "Trading Blocs: The Natural, the Unnatural, and the Super-Natural," Center for International and Development Economics Research (CIDER) Working Papers C94-034, University of California at Berkeley.
  10. Kemp, Murray C. & Wan, Henry Jr., 1976. "An elementary proposition concerning the formation of customs unions," Journal of International Economics, Elsevier, vol. 6(1), pages 95-97, February. [Downloadable!] (restricted)
  11. Anne O. Krueger, 1995. "Free Trade Agreements versus Customs Unions," NBER Working Papers 5084, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  12. Levy, Philip I, 1997. "A Political-Economic Analysis of Free-Trade Agreements," American Economic Review, American Economic Association, vol. 87(4), pages 506-19, September. [Downloadable!] (restricted)
  13. Anderson, James E, 1979. "A Theoretical Foundation for the Gravity Equation," American Economic Review, American Economic Association, vol. 69(1), pages 106-16, March. [Downloadable!] (restricted)
  14. Jeffrey A. Frankel., 1993. "Is Japan Creating a Yen Bloc in East Asia and the Pacific?," Center for International and Development Economics Research (CIDER) Working Papers C93-007, University of California at Berkeley.
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(explanations, 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.)

  1. Michael Freudenberg & Guillaume Gaulier & Deniz Unal-Kesenci, 1998. "La regionalisation du commerce international: Une evaluation par les intensites relatives bilaterales," Working Papers 1898-05, CEPII research center. [Downloadable!]
  2. Rodolphe Blavy, 2001. "Trade in the Mashreq: An Empirical Examination," IMF Working Papers 01/163, International Monetary Fund. [Downloadable!]
  3. Giovanni Pica & José V. Rodríguez Mora, 2007. "Who’s Afraid of a Globalized World? Foreign Direct Investments, Local Knowledge and Allocation of Talents," CSEF Working Papers 184, Centre for Studies in Economics and Finance (CSEF), University of Salerno, Italy. [Downloadable!]
  4. Imbs, Jean, 2000. "Sectors and the OECD Business Cycle," CEPR Discussion Papers 2473, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  5. Christophe Rault & Robert Sova & Ana Maria Sova, 2007. "The Role of Association Agreements within European Union Enlargement to Central and Eastern European Countries," IZA Discussion Papers 2769, Institute for the Study of Labor (IZA). [Downloadable!]
  6. Eileen Brooks, 2003. "Why Don't Firms Export More? Product Quality and Colombian Plants," Santa Cruz Center for International Economics, Working Paper Series 1009, Center for International Economics, UC Santa Cruz. [Downloadable!]
  7. Matthias Sutter & Martin Kocher, 2004. "Patterns of co-authorship among economics departments in the USA," Applied Economics, Taylor and Francis Journals, vol. 36(4), pages 327-333, March. [Downloadable!] (restricted)
  8. Giovanni Pica & José V. Rodríguez Mora, 2005. "FDI, Allocation of Talents and Differences in Regulation," CSEF Working Papers 134, Centre for Studies in Economics and Finance (CSEF), University of Salerno, Italy. [Downloadable!]
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  9. Maria Borga & William J. Zeile, 2004. "International Fragmentation of Production and the Intrafirm Trade of U.S. Multinational Companies," BEA Working Papers 0013, Bureau of Economic Analysis. [Downloadable!]
  10. Eileen Brooks, 2003. "Why Don't Firms Export More? Product Quality and Colombian Plants," Santa Cruz Department of Economics, Working Paper Series 1036, Department of Economics, UC Santa Cruz. [Downloadable!]
  11. Julia Spies & Helena Marques, 2006. "Trade Effects of the Europe Agreements," Diskussionspapiere aus dem Institut für Volkswirtschaftslehre der Universität Hohenheim 274/2006, Department of Economics, University of Hohenheim, Germany. [Downloadable!]
  12. Jeffrey A. Frankel & Ernesto Stein & Shang-Jin Wei, 1996. "Regional Trading Arrangement: Natural or Super-Natural?," NBER Working Papers 5431, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  13. Jean IMBS, 1998. "Co-Fluctuations," Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP) 9819, Université de Lausanne, Faculté des HEC, DEEP. [Downloadable!]
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