Is Regionalism an Increasing Feature of the World Economy?
Measuring the importance of regionalism in international trade is desirable but difficult. The number of regional trade agreements (RTAs) reported to the WTO or the proportion of world trade which is between countries in an RTA are frequently cited as evidence that regionalism is growing at an accelerating rate. This paper questions whether RTAs really are as important as the headline numbers suggest, or whether they just occupy an excessively large part of policymakers' and economic journalists' time. The main contributions are to analyse the number of RTAs and the share of world trade criteria in order to show why both are meaningless in the current world economy. The paper concludes that, although the extent of regionalism is difficult to measure and the desirability of individual RTAs is difficult to assess, the threat to the multilateral trading system does not appear to be as large as is often reported, because the long-term dynamics of RTAs lead either to state formation, which is important but rare, or to ineffectiveness, which is the fate of the vast majority of RTAs. Copyright 2007 The Author Journal compilation 2007 Blackwell Publishing Ltd .
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 30 (2007)
Issue (Month): 6 (06)
|Contact details of provider:|| Web page: http://www.blackwellpublishing.com/journal.asp?ref=0378-5920|
|Order Information:||Web: http://www.blackwellpublishing.com/subs.asp?ref=0378-5920|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Tubagus Feridhanusetyawan, 2005. "Preferential Trade Agreements in the Asia-Pacific Region," IMF Working Papers 05/149, International Monetary Fund.
- Patrick Messerlin, 2005. "The Directive on Services: Rent Seekers Strike Back," Sciences Po publications info:hdl:2441/8131, Sciences Po.
- Crawford, Jo-Ann & Fiorentino, Roberto V., 2005. "The changing landscape of regional trade agreements," WTO Discussion Papers 8, World Trade Organization (WTO), Economic Research and Statistics Division.
- Richard Pomfret, 2005.
"Regional Trade Agreements,"
School of Economics Working Papers
2005-15, University of Adelaide, School of Economics.
- Guillaume Gaulier & Françoise Lemoine & Deniz Ünal, 2006.
"China’s Emergence and the Reorganisation of Trade Flows in Asia,"
2006-05, CEPII research center.
- GAULIER, Guillaume & LEMOINE, Francoise & UNAL-KESENCI, Deniz, 2007. "China's emergence and the reorganisation of trade flows in Asia," China Economic Review, Elsevier, vol. 18(3), pages 209-243.
- Schiff, Maurice & Winters, L Alan, 1998. "Dynamics and Politics in Regional Integration Arrangements: An Introduction," World Bank Economic Review, World Bank Group, vol. 12(2), pages 177-95, May.
- Richard Pomfret, 1986. "The Trade-Diverting Bias of Preferential Trading Arrangements," Journal of Common Market Studies, Wiley Blackwell, vol. 25(2), pages 109-117, December.
- Pomfret, Richard, 1985. "Discrimination in International Trade: Extent, Motivation and Implications - La discriminazione nell’ambito del commercio internazionale: estensione, motivi e implicazioni," Economia Internazionale / International Economics, Camera di Commercio di Genova, vol. 38(1), pages 49-65.
- repec:spo:wpecon:info:hdl:2441/8131 is not listed on IDEAS
- Baysan, Tercan & Panagariya, Arvind & Pitigala, Nihal, 2006. "Preferential trading in South Asia," Policy Research Working Paper Series 3813, The World Bank.
- Pomfret, Richard, 2005.
"Sequencing trade and monetary integration: issues and application to Asia,"
Journal of Asian Economics,
Elsevier, vol. 16(1), pages 105-124, February.
- 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.
- Linda Low, 2004. "A Comparative Evaluation and Prognosis of Asia Pacific Bilateral and Regional Trade Arrangements," Asian-Pacific Economic Literature, Asia Pacific School of Economics and Government, The Australian National University, vol. 18(1), pages 1-11, 05.
- Dennis, Allen, 2006. "The impact of regional trade agreements and trade facilitation in the Middle East and North Africa region," Policy Research Working Paper Series 3837, The World Bank.
When requesting a correction, please mention this item's handle: RePEc:bla:worlde:v:30:y:2007:i:6:p:923-947. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.