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The Clash Of Liberalizations: Preferential Vs. Multilateral Trade Liberalization In The European Union

  • Baybars Karacaovali

    (University of Maryland)

  • Nuno Limao

    (University of Maryland)

This paper considers the impact of preferential trade liberalization (PTL) on multilateral trade liberalization (MTL), focusing on the European Union. The model that we develop, which builds on Limão (2002), captures key features of the multilateral system and of recent PTAs and generates several specific predictions that we test.The following is an abridged version of this paper presented at the 15th International Conference, Istanbul, Turkey, May 2005.

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Paper provided by International Trade and Finance Association in its series International Trade and Finance Association Conference Papers with number 1037.

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Date of creation: 18 May 2005
Date of revision:
Handle: RePEc:bep:itfapp:1037
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  1. Kishore Gawande & Usree Bandyopadhyay, 2000. "Is Protection for Sale? Evidence on the Grossman-Helpman Theory of Endogenous Protection," The Review of Economics and Statistics, MIT Press, vol. 82(1), pages 139-152, February.
  2. John H. Jackson, 1997. "The World Trading System, 2nd Edition: Law and Policy of International Economic Relations," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262600277, June.
  3. Nuno Lim�o & Marcelo Olarreaga, 2006. "Trade Preferences to Small Developing Countries and the Welfare Costs of Lost Multilateral Liberalization," World Bank Economic Review, World Bank Group, vol. 20(2), pages 217-240.
  4. Riedel, James, 1976. "Tariff concessions in the Kennedy Round and the structure of protection in West Germany: An econometric assessment," Kiel Working Papers 41, Kiel Institute for the World Economy.
  5. Olarreaga, Marcelo & Soloaga, Isidro & Winters, Alan, 1999. "What's behind MERCOSUR's common external tariff?," Policy Research Working Paper Series 2231, The World Bank.
  6. Feenstra, Robert C., 1989. "Symmetric pass-through of tariffs and exchange rates under imperfect competition: An empirical test," Journal of International Economics, Elsevier, vol. 27(1-2), pages 25-45, August.
  7. Constantinos Syropoulos, 2002. "On Tariff Preferences And Delegation Decisions In Customs Unions: A Heckscher--Ohlin Approach," Economic Journal, Royal Economic Society, vol. 112(481), pages 625-648, July.
  8. Faezeh Foroutan, 1998. "Does Membership in a Regional Preferential Trade Arrangement Make a Country More or Less Protectionist?," The World Economy, Wiley Blackwell, vol. 21(3), pages 305-335, 05.
  9. Bond, Eric W. & Syropoulos, Constantinos, 1996. "The size of trading blocs Market power and world welfare effects," Journal of International Economics, Elsevier, vol. 40(3-4), pages 411-437, May.
  10. Bagwell,K. & Staiger,R.W., 1998. "An economic theory of GATT," Working papers 15, Wisconsin Madison - Social Systems.
  11. Bagwell, Kyle & Staiger, Robert W, 1998. "Will Preferential Agreements Undermine the Multilateral Trading System?," Economic Journal, Royal Economic Society, vol. 108(449), pages 1162-82, July.
  12. Pinelopi Koujianou Goldbe & Giovanni Maggi, 1997. "Protection for Sale: An Empirical Investigation," NBER Working Papers 5942, National Bureau of Economic Research, Inc.
  13. Gene M. Grossman & Elhanan Helpman, 1992. "Protection For Sale," NBER Working Papers 4149, National Bureau of Economic Research, Inc.
  14. Constantopoulos, Maria, 1974. "Labour protection in Western Europe," European Economic Review, Elsevier, vol. 5(4), pages 313-328, December.
  15. Karacaovali, Baybars & Limão, Nuno, 2008. "The clash of liberalizations: Preferential vs. multilateral trade liberalization in the European Union," Journal of International Economics, Elsevier, vol. 74(2), pages 299-327, March.
  16. Lim“o, Nuno, 2002. "Are Preferential trade Agreements with Non-trade Objectives a Stumbling Block for Multilateral Liberalization?," Royal Economic Society Annual Conference 2002 129, Royal Economic Society.
  17. Cadot, Olivier & de Melo, Jaime & Olarraga, Marcelo, 1999. "Regional Integration and Lobbying for Tariffs against Nonmembers," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 40(3), pages 635-57, August.
  18. John Romalis, 2007. "NAFTA's and CUSFTA's Impact on International Trade," The Review of Economics and Statistics, MIT Press, vol. 89(3), pages 416-435, August.
  19. Kyle Bagwell & Robert W. Staiger, 2006. "What Do Trade Negotiators Negotiate About? Empirical Evidence from the World Trade Organization," NBER Working Papers 12727, National Bureau of Economic Research, Inc.
  20. Finger, J. Michael & Reincke, Ulrich & Castro, Adriana, 1999. "Market access bargaining in the Uruguay Round - Rigid or relaxed reciprocity?," Policy Research Working Paper Series 2258, The World Bank.
  21. Won Chang & L. Alan Winters, 2002. "How Regional Blocs Affect Excluded Countries: The Price Effects of MERCOSUR," American Economic Review, American Economic Association, vol. 92(4), pages 889-904, September.
  22. Levy, Philip I, 1997. "A Political-Economic Analysis of Free-Trade Agreements," American Economic Review, American Economic Association, vol. 87(4), pages 506-19, September.
  23. Pabo Sanguinetti & Alok Bohara & Kishore Guatanabe, 2003. "Trade Diverion and Declinning Tariffs: Evidence from MERCOSUR," Department of Economics Working Papers 003, Universidad Torcuato Di Tella.
  24. Paul Krugman, 1989. "Is Bilateralism Bad?," NBER Working Papers 2972, National Bureau of Economic Research, Inc.
  25. repec:oup:restud:v:74:y:2007:i:3:p:821-855 is not listed on IDEAS
  26. Matthias Busse, 2000. "The hub and spoke approach of EU trade policy," Intereconomics: Review of European Economic Policy, Springer, vol. 35(4), pages 153-154, July.
  27. Foroutan, Faezeh, 1998. "Does membership in a regional preferential trade arrangement make a country more or less protectionist?," Policy Research Working Paper Series 1898, The World Bank.
  28. repec:oup:qjecon:v:113:y:1998:i:1:p:227-250 is not listed on IDEAS
  29. Pinelopi K. Goldberg & Michael M. Knetter, 1996. "Goods Prices and Exchange Rates: What Have We Learned?," NBER Working Papers 5862, National Bureau of Economic Research, Inc.
  30. Finger, J M, 1974. "GATT Tariff Concessions and the Exports of Developing Countries-United States Concessions at the Dillon Round," Economic Journal, Royal Economic Society, vol. 84(335), pages 566-75, September.
  31. Finger, J M, 1976. "Effects of the Kennedy Round Tariff Concessions on the Exports of Developing Countries," Economic Journal, Royal Economic Society, vol. 86(341), pages 87-95, March.
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