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The Preference for New Preferential Trade Agreements: Does It Lead to a Good Use of Scarce Resources?

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  • Kerr, William A.

Abstract

At the end of 2010 there are more than 100 new preferential trade agreements being contemplated. At the same time there are approximately 200 existing trade agreements whose provisions leave large additional potential gains from trade on the table. Despite these potential benefits, there appears to be little enthusiasm for recontracting efforts centred on existing agreements. This suggests that there is an inefficient deployment of scarce negotiating resources. Exceptions do exist, such as the European Union, which has strong institutional mechanisms - including, in particular, the Commission - that foster further market integration. While the EU's institutional model may not be suitable for all preferential agreements, incorporating a formal recontracting mechanism into new agreements will provide opportunities to garner additional gains from trade in the future.

Suggested Citation

  • Kerr, William A., 2011. "The Preference for New Preferential Trade Agreements: Does It Lead to a Good Use of Scarce Resources?," Estey Centre Journal of International Law and Trade Policy, Estey Centre for Law and Economics in International Trade, vol. 12(01), pages 1-11, January.
    • Handle: RePEc:ags:ecjilt:99283
    DOI: 10.22004/ag.econ.99283
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    References listed on IDEAS

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    1. Viju, Crina & Kerr, William A. & Mekkaoui, Cherine, 2010. "Everything is on the Table: Agriculture in the Canada-EU Trade Agreement," Commissioned Papers 95800, Canadian Agricultural Trade Policy Research Network.
    2. R. Moodley & William Kerr & Daniel Gordon, 2000. "Has the Canada-US trade agreement fostered price integration?," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 136(2), pages 334-354, June.
    3. Sangeeta Khorana & Nicholas Perdikis & May T. Yeung & William A. Kerr, 2010. "Bilateral Trade Agreements in the Era of Globalization," Books, Edward Elgar Publishing, number 13719.
    4. Kerr, William A., 2002. "NAFTA and Beyond: Challenges for Extending Free Trade in the Hemisphere," Estey Centre Journal of International Law and Trade Policy, Estey Centre for Law and Economics in International Trade, vol. 3(2), pages 1-15.
    5. May T. Yeung & Nicholas Perdikis & William A. Kerr, 1999. "Regional Trading Blocs in the Global Economy," Books, Edward Elgar Publishing, number 1781.
    6. Unknown, 2006. "Agrifood Regulatory and Policy Integration Under Stress," 2005 NAAMIC Workshop II: Agrifood Regulatory and Policy Integration under Stress 252451, North American Agrifood Market Integration Consortium (NAAMIC).
    7. Abler, David G., 2006. "Approaches to Measuring the Effects of Trade Agreements," Commissioned Papers 140762, Canadian Agricultural Trade Policy Research Network.
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    1. Viju, Crina & Yeung, May T. & Kerr, William A., 2012. "Geograpical Indications, Barriers to Market Access and Preferential Trade Agreements," Trade Policy Briefs 122743, Canadian Agricultural Trade Policy Research Network.
    2. Kerr, William A., 2013. "Negotiating in Disequilibrium: Can a Trans-Pacific Partnership be Achieved as Potential Partners Proliferate?," Estey Centre Journal of International Law and Trade Policy, Estey Centre for Law and Economics in International Trade, vol. 14(2), pages 1-12.
    3. Kerr, William A., 2012. "The EU-Canada Free Trade Agreement: What is on the Table for Agriculture?," 86th Annual Conference, April 16-18, 2012, Warwick University, Coventry, UK 135067, Agricultural Economics Society.
    4. Smyth Stuart & Kerr William & Phillips Peter, 2017. "Labeling Demands, Coexistence and the Challenges for Trade," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 15(1), pages 1-10, January.

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