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Some Economics of Integrated and Segmented Markets

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  • Donald J. Wright

Abstract

For the purposes of the discussion in this paper, whether markets are integrated or segmented is endogenous and is determined by the interaction of demand parameters, tariffs, transportation costs, and arbitrage. Given certain restrictions, it is shown, in equilibrium, that policymakers choose tariffs to segment markets. The effects of trade liberalization (reducing all tariffs to zero) in an endogenous market structure framework are determined and compared to the existing literature. The results differ substantially, highlighting the importance of explicit modeling of costly arbitrage in imperfectly competitive models.

Suggested Citation

  • Donald J. Wright, 2003. "Some Economics of Integrated and Segmented Markets," Review of International Economics, Wiley Blackwell, vol. 11(1), pages 72-89, February.
    • Handle: RePEc:bla:reviec:v:11:y:2003:i:1:p:72-89
    DOI: 10.1111/1467-9396.00369
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    Cited by:

    1. Fikru, Mahelet G. & Lahiri, Sajal, 2014. "Cross-border mergers with flexible policy regime: The role of efficiency and market size," Journal of the Japanese and International Economies, Elsevier, vol. 34(C), pages 58-70.
    2. Tsuyoshi Toshimitsu, 2014. "Economic Integration, Quality Choice, and Monopoly," Discussion Paper Series 118, School of Economics, Kwansei Gakuin University, revised May 2014.
    3. Jota Ishikawa, 2004. "From Segmented Markets to Integrated Markets: an Analysis of Economic Integration and Antidumping Legislation," Review of International Economics, Wiley Blackwell, vol. 12(4), pages 706-722, September.

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