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Could Regional Trade Integration be a Building Block for Global Governance of Trade?
[Může být regionální obchodní integrace stavebním kamenem celosvětového řízení obchodu?]

Author

Listed:
  • Ludmila Štěrbová

Abstract

Some theories consider the possibility to multilateralize regional approaches and to establish global system of rules based on regionalism. These tendencies are also tailored on international trade. Nevertheless, the fundamental problem of the multilateral trading system in the framework of the World Trade Organization is the extent of policy space, which states' governments do not want to give in favor of global trade governance. Although the multilateral trading system and further multilateral trade liberalization face many challenges, regionalism is not an alternative that could help government to pursue their trade interests. On the contrary, bilateral Preferential Trade Agreements harm competition, distort business environment and undermine the multilateral trading system.

Suggested Citation

  • Ludmila Štěrbová, 2008. "Could Regional Trade Integration be a Building Block for Global Governance of Trade? [Může být regionální obchodní integrace stavebním kamenem celosvětového řízení obchodu?]," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2008(2), pages 23-36.
    • Handle: RePEc:prg:jnlaop:v:2008:y:2008:i:2:id:54:p:23-36
    DOI: 10.18267/j.aop.54
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    More about this item

    Keywords

    multilateral trading system; Preferential Trade Agreements; policy space;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

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