Welfare Implications of Regionalism in the GATT: The Presence of Foreign Ownership
AbstractThis paper examines the welfare implications of an existence of free trade agreements (FTAs) and customs unions (CUs) in the GATT system, in the presence of cross-foreign ownership among countries. In particular, two GATT regimes are analyzed: a pure GATT regime without any regional free trade agreements, and modified GATT regime with either an FTA or a CU. This paper argues that, when foreign ownership exists significantly between the countries, no countries in the GATT have an incentive to form a regional trade agreement before they participate in multilateral tariff negotiations.
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Bibliographic InfoPaper provided by National University of Singapore, Department of Economics in its series Departmental Working Papers with number wp0112.
Length: 30 pages
Date of creation: Nov 2001
Date of revision:
Most Favored Nation Clause; Free Trade Agreements; Customs Unions; Foreign Ownership;
Find related papers by JEL classification:
- F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
- F15 - International Economics - - Trade - - - Economic Integration
- F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
This paper has been announced in the following NEP Reports:
- NEP-ALL-2001-11-05 (All new papers)
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