Deep Integration, Non-Discrimination and Euro-Mediterranean Free Trade
Key questions in evaluating the justification for free trade agreements (FTAs) are whether formal international cooperation is necessary to promote greater contestability of markets through harmonization or recognition of regulatory regimes ("deep integration"), and whether any actions taken to reduce market segmentation are applied on a nondiscriminatory basis. This paper investigates the potential importance of deep integration in the context of trade agreements the EU has concluded with Mediterranean countries. Using a standard competitive general equilibrium model of the Egyptian economy, we find that the static welfare impact of a deep FTA is a multiple of what can be obtained from a classic "shallow" agreement; in some scenarios welfare may increase by more than 10 percent of GDP, compared to close to zero under a shallow agreement.
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- Denise Eby Konan & Keith Maskus, 1997.
"Joint Trade Liberalization and Tax Reform in a Small Open Economy: The Case of Egypt,"
199703-R, University of Hawaii at Manoa, Department of Economics.
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- Schiff, Maurice, 1997. "Small is Beautiful: Preferential Trade Agreements and the Impact of Country Size, Market Share, and Smuggling," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 12, pages 359-387.
- Denise Eby Konan & Keith Maskus, 1997. "Is Small Beautiful? Trade Shares and Trade Creation with Differentiated Products," Working Papers 199706, University of Hawaii at Manoa, Department of Economics.
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