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Regionalism in a multilateral world

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  • Ethier, Wilfred

Abstract

Recent regional initiatives have been addressed from a Vinerian perspective of regional integration as a combination of trade creation and trade diversion. This is true both of policy-oriented economists, who tend to be critical of the initiatives, and of theorists, who have added dynamic and game-theoretic elements to the Vinerian structure. This paper describes the stylized facts of much recent regional integration, and develops an alternative model. The analysis suggests the possibility that regional integration, far from threatening multilateral liberalism, may in fact be a direct consequence of the success of past multilateralism and an added guarantee for its survival.

Suggested Citation

  • Ethier, Wilfred, 1996. "Regionalism in a multilateral world," Discussion Papers, Series II 314, University of Konstanz, Collaborative Research Centre (SFB) 178 "Internationalization of the Economy".
  • Handle: RePEc:zbw:kondp2:314
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Direct investment; regionalism; multilateralism; policy reform;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business

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