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Regional Trade Agreements

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Author Info

  • Richard Pomfret

    (University of Adelaide)

Abstract

This paper reviews the evolution of thinking about regional trade agreements (RTAs) and the policy developments reflected in three waves of RTAs during the last half century. It rejects claims, based on number of RTAs notified to the WTO, that RTAs are today more prolific than ever. Desirable and undesirable features of RTAs can be identified, but the central message of the theory of second-best about the ambiguity of outcomes remains valid. Describing many RTAs as free trade agreements distorts the meaning of “free trade” and deeper integration in some regions undermines use of the nation state as the central unit of analysis; both make it difficult to determine whether active RTAs are stepping stones or stumbling blocks to improved resource allocation.

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File URL: http://128.118.178.162/eps/it/papers/0511/0511002.pdf
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Bibliographic Info

Paper provided by EconWPA in its series International Trade with number 0511002.

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Length: 20 pages
Date of creation: 03 Nov 2005
Date of revision:
Handle: RePEc:wpa:wuwpit:0511002

Note: Type of Document - pdf; pages: 20
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Web page: http://128.118.178.162

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Keywords: trade policy; regional trade agreements;

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References

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  1. James E. Anderson & Eric van Wincoop, 2000. "Gravity with Gravitas: A Solution to the Border Puzzle," Boston College Working Papers in Economics 485, Boston College Department of Economics.
  2. Carsten Kowalczyk & Raymond Riezman, 2009. "Trade Agreements," CESifo Working Paper Series 2660, CESifo Group Munich.
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  6. Richard Pomfret, 2004. "Trade Policies in Central Asia after EU Enlargement and before Russian WTO Accession: Regionalism and Integration into the World Economy," School of Economics Working Papers 2004-13, University of Adelaide, School of Economics.
  7. Richard Pomfret, 2004. "Sequencing Trade and Monetary Integration: Issues and Applications to Asia," School of Economics Working Papers 2004-14, University of Adelaide, School of Economics.
  8. Richard Pomfret, 2005. "Sequencing Trade and Monetary Integration," Others 0502004, EconWPA.
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  17. repec:spo:wpecon:info:hdl:2441/8131 is not listed on IDEAS
  18. Richard Pomfret, 2005. "Currency Areas in Theory and Practice," The Economic Record, The Economic Society of Australia, vol. 81(253), pages 166-176, 06.
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Citations

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Cited by:
  1. Douglas A. Irwin, 2006. "The Impact of Federation on Australia's Trade Flows," NBER Working Papers 12160, National Bureau of Economic Research, Inc.
  2. Balogun, Emmanuel Dele, 2007. "Effects of exchange rate policy on bilateral export trade of WAMZ countries," MPRA Paper 6234, University Library of Munich, Germany.
  3. Bernhard Herz & Marco Wagner, 2010. "Multilateralism versus Regionalism!?," Working Papers 089, Bavarian Graduate Program in Economics (BGPE).
  4. Richard Pomfret, 2007. "Is Regionalism an Increasing Feature of the World Economy?," The World Economy, Wiley Blackwell, vol. 30(6), pages 923-947, 06.
  5. Bureau, Jean-Christophe & Jean, Sebastien & Matthews, Alan, 2005. "Concessions and Exemptions for Developing Countries in the Agricultural Negotiations: The Role of the Special and Differential Treatment," Working Papers 18858, TRADEAG - Agricultural Trade Agreements.
  6. Achterbosch, Thom J. & de Bruin, S. & van Tongeren, Frank W., 2003. "Trade Preferences For Developing Countries," Report Series 29102, Agricultural Economics Research Institute.
  7. Michele FRATIANNI & Chang HOON HO, 2007. "On the Relationship Between RTA Expansion and Openness," Working Papers 288, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
  8. Balogun, Emmanuel Dele, 2009. "Determinants of West African Monetary Zone (WAMZ)countries global export trade: do foreign reserves and independent exchange rates matter?," MPRA Paper 12929, University Library of Munich, Germany.
  9. Michele Fratianni & Chang Hoon Oh, 2008. "Expanding RTAs, Trade Flows, and the Multinational Enterprise," Working Papers 2008-02, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.

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