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Free Trade Agreements as dynamic farsighted networks

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Author Info

  • James Lake

    ()
    (Southern Methodist University)

Abstract

In the presence of multilateral negotiations, are Free Trade Agreements (FTAs) necessary for, or will they prevent, free trade? This question is explored using a novel dynamic network theoretic model where countries are farsighted and asymmetric in terms of market size. I develop a new equilibrium concept that endogenizes the order of negotiations. FTAs are necessary for free trade when there are two small countries and one large country but FTAs prevent free trade when there are two large countries and one small country. The model provides insights into the dynamics of recent trade negotiations involving the US.

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File URL: ftp://ftp1.economics.smu.edu/WorkingPapers/2013/LAKE/LAKE-2013-04.pdf
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Bibliographic Info

Paper provided by Southern Methodist University, Department of Economics in its series Departmental Working Papers with number 1304.

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Date of creation: Jun 2013
Date of revision:
Handle: RePEc:smu:ecowpa:1304

Contact details of provider:
Postal: Department of Economics, P.O. Box 750496, Southern Methodist University, Dallas, TX 75275-0496
Phone: 214-768-2715
Fax: 214-768-1821
Web page: http://www.smu.edu/economics

Related research

Keywords: Free Trade Agreements; preference erosion; multilateralism; free trade; networks; farsighted.;

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Cited by:
  1. James Lake & Halis M. Yildiz, 2014. "On the different geographic characteristics of Free Trade Agreements and Customs Unions," Departmental Working Papers 1403, Southern Methodist University, Department of Economics.

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