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A 3 x 3 model of customs unions

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  • Riezman, Raymond

Abstract

AbstractIn this paper we develop a three-country-three-good model of customs unions. The main result is that a sufficient condition for two countries to benefit from forming a customs union is that they are similar in the sense that their mutual trade is small. This result is obtained by analyzing the terms of trade effects rather than the more traditional emphasis on trade creation-trade diversion effects.
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Suggested Citation

  • Riezman, Raymond, 1979. "A 3 x 3 model of customs unions," Journal of International Economics, Elsevier, vol. 9(3), pages 341-354, August.
  • Handle: RePEc:eee:inecon:v:9:y:1979:i:3:p:341-354
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    Cited by:

    1. Dong, Yan & Whalley, John, 2011. "Carbon motivated regional trade arrangements: Analytics and simulations," Economic Modelling, Elsevier, vol. 28(6), pages 2783-2792.
    2. Philippa Dee, 2005. "The Australia–US Free Trade Agreement - An Assessment," Trade Working Papers 22309, East Asian Bureau of Economic Research.
    3. Lisandro Abrego & Raymond Riezman & John Whalley, 2002. "How Often Are Propositions On The Effects Of Regional Trade Agreements Theoretical Curiosa And When Should They Guide Policy?," UWO Department of Economics Working Papers 20024, University of Western Ontario, Department of Economics.
    4. Denise Eby Konan & Keith E. Maskus, 2012. "Preferential Trade and Welfare with Differentiated Products," Review of International Economics, Wiley Blackwell, vol. 20(5), pages 884-892, November.
    5. Sergei Guriev & Mikhail Klimenko, 2015. "Duration and Term Structure of Trade Agreements," Economic Journal, Royal Economic Society, vol. 125(589), pages 1818-1849, December.
    6. de Melo, Jaime & Montenegro, Claudio & Panagariya, Arvind, 1992. "Regional integration, old and new," Policy Research Working Paper Series 985, The World Bank.
    7. Subhayu Bandyopadhyay & Sajal Lahiri & Howard J. Wall, 2009. "Cross-border lobbying in preferential trading agreements: implications for external tariffs," Working Papers 2009-041, Federal Reserve Bank of St. Louis.
    8. Subhayu Bandyopadhyay & Sajal Lahiri & Suryadipta Roy, 2011. "Political Asymmetry And Common External Tariffs In A Customs Union," Economics and Politics, Wiley Blackwell, vol. 23(1), pages 88-106, March.
    9. Carsten Kowalczyk, 1990. "Welfare and Customs Unions," NBER Working Papers 3476, National Bureau of Economic Research, Inc.
    10. Arvind Panagariya, 2003. "Preferential Trading and Welfare: The Small-Union Case Revisited," International Trade 0308009, EconWPA.
    11. McCalla, Alex F., 1992. "GATT, Preferential/Regional Trading Blocks and Agricultural Trade," 1992 Conference (36th), February 10-13, 1992, Canberra, Australia 146544, Australian Agricultural and Resource Economics Society.
    12. Lisandro Abrego & Raymond Riezman & John Whalley, 2001. "How Often Are Propositions on the Effects of Customs Unions Theoretical Curiosa and When Should They Guide Policy?," NBER Working Papers 8304, National Bureau of Economic Research, Inc.
    13. repec:eee:reveco:v:50:y:2017:i:c:p:98-105 is not listed on IDEAS
    14. Subhayu Bandyopadhyay & Sajal Lahiri & Suryadipta Roy, 2008. "Enlargement and common external tariff in a political-economic model of customs union," Working Papers 2008-022, Federal Reserve Bank of St. Louis.
    15. Bandyopadhyay, Subhayu & Lahiri, Sajal, 2012. "Possible Unintended Effects of Restrictions on Foreign Lobbying in a Customs Union," Working Papers 2012-061, Federal Reserve Bank of St. Louis, revised 06 May 2016.
    16. Panagariya, Arvind & Findlay, Ronald & DEC, 1994. "A political - economy analysis of free trade areas and customs unions," Policy Research Working Paper Series 1261, The World Bank.

    More about this item

    JEL classification:

    • P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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