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On the Interpretation of the Kemp/Wan Theorem

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  • Richardson, Martin

Abstract

This note considers the well-known theorem of M. Kemp and H. Wan concerning the welfare gains from the formation of customs unions. The author argues that the theorem may not imply that a union can unilaterally guarantee a welfare gain if nonmembers set tariffs optimally against the union. He provides an example in which a customs union cannot improve the joint welfare of members. Copyright 1995 by Royal Economic Society.

Suggested Citation

  • Richardson, Martin, 1995. "On the Interpretation of the Kemp/Wan Theorem," Oxford Economic Papers, Oxford University Press, vol. 47(4), pages 696-703, October.
    • Handle: RePEc:oup:oxecpp:v:47:y:1995:i:4:p:696-703
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    Cited by:

    1. Fritz Breuss, 2007. "A Prototype Model of EU's 2007 Enlargement," FIW Working Paper series 007, FIW.
    2. Raimondos-Moller, Pascalis & Woodland, Alan D., 2006. "Non-preferential trading clubs," Journal of International Economics, Elsevier, vol. 68(1), pages 79-91, January.
    3. Martin Richardson, 2023. "An Elementary Tariff Reform for a Free Trade Area," Foreign Trade Review, , vol. 58(1), pages 38-44, February.
    4. Fritz Breuss, 2009. "An evaluation of the EU's Fifth Enlargement With special focus on Bulgaria and Romania," European Economy - Economic Papers 2008 - 2015 361, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    5. Grossman, Gene, 2016. "The Purpose of Trade Agreements," CEPR Discussion Papers 11151, C.E.P.R. Discussion Papers.
    6. Harald Badinger & Fritz Breuss, 2011. "The Quantitative Effects of European Post-war Economic Integration," Chapters, in: Miroslav N. Jovanović (ed.), International Handbook on the Economics of Integration, Volume III, chapter 14, Edward Elgar Publishing.
    7. Bond, Eric W. & Syropoulos, Constantinos & Winters, L. Alan, 2001. "Deepening of regional integration and multilateral trade agreements," Journal of International Economics, Elsevier, vol. 53(2), pages 335-361, April.

    More about this item

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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