Winners and losers from the gradual formation of trading blocs
AbstractAlthough global free trade is efficient, each country's benefit from free trade depends on the path that leads to the global free trade agreement. Using a dynamic model of trading bloc formation, we how that when global free trade is reached gradually, the countries that are initially excluded gain less than the rest and may be even made worse-off by the final free trade agreement, compared with the initial state of no trading blocs.
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Bibliographic InfoPaper provided by Barcelona Graduate School of Economics in its series Working Papers with number 274.
Date of creation: Feb 2006
Date of revision:
Other versions of this item:
- Ines Macho-Stadler & Licun Xue, 2007. "Winners and Losers from the Gradual Formation of Trading Blocs," Economica, London School of Economics and Political Science, vol. 74(296), pages 664-681, November.
- Macho-Stadler & Licun Xue, 2006. "Winners And Losers From The Gradual Formation Of Trading Blocs," Departmental Working Papers 2006-27, McGill University, Department of Economics.
- C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
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