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More (or Less) on Necessarily Welfare-Enhancing Free Trade Areas

Author

Listed:
  • Martin Richardson

    (Research School of Economics, Australian National University)

  • Niven Winchester

    (Department of Economics, University of Otago)

Abstract

This note considers the extension of the Kemp-Wan theorem on necessarily welfare-improving customs unions to free trade areas. It suggests that the value of this extension is undermined by its very rationale - the greater popularity of free trade areas over customs unions for 'political' reasons.

Suggested Citation

  • Martin Richardson & Niven Winchester, 2006. "More (or Less) on Necessarily Welfare-Enhancing Free Trade Areas," Working Papers 0603, University of Otago, Department of Economics, revised Jul 2006.
    • Handle: RePEc:otg:wpaper:0603
    as

    Download full text from publisher

    File URL: http://www.business.otago.ac.nz/econ/research/discussionpapers/DP_0603.pdf
    File Function: First version, 2006
    Download Restriction: no
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    More about this item

    Keywords

    Kemp-Wan; customs unions; free trade area;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F15 - International Economics - - Trade - - - Economic Integration

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