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Author: Richard A. Gibb
Publisher:
ISBN:
Category :
Languages : en
Pages : 282
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Author: Jeffrey A. Frankel
Publisher:
ISBN:
Category : International economic integration
Languages : en
Pages : 68
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Book Description
Using the gravity model, we find evidence of three continental trading blocs: the Americas, Europe and Pacific Asia. Intra-regional trade exceeds what can be explained by the proximity of a pair of countries, their sizes and GNP/capitas, and whether they share a common border or language. We then turn from the econometrics to the economic welfare implications. Krugman has supplied an argument against a three-bloc world, assuming no transport costs, and another argument in favor, assuming prohibitively high transportation costs between continents. We complete the model for the realistic case where intercontinental transport costs are neither prohibitive nor zero. If transport costs are low, continental Free Trade Areas can reduce welfare. We call such blocs super-natural. Partial liberalization is better than full liberalization within regional Preferential Trading Arrangements, despite the GATT's Article 24. The super-natural zone occurs when the regionalization of trade policy exceeds what is justified by natural factors. Estimates suggest that trading blocs like the current EC are super-natural.
Author: Richard A. Gibb
Publisher:
ISBN:
Category :
Languages : en
Pages : 282
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Author: Jeffrey A. Frankel
Publisher:
ISBN:
Category :
Languages : es
Pages : 44
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Book Description
Author: Mr.Jeffrey A. Frankel
Publisher: International Monetary Fund
ISBN: 145184266X
Category : Business & Economics
Languages : en
Pages : 18
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Book Description
Continental trade blocs are emerging in many parts of the world almost in tandem. If trade blocs are required to satisfy the McMillan criterion of not lowering trade volume with outside countries, they have to engage in a dramatic reduction of trade barriers against non-member countries. That may not be politically feasible. On the other hand, in a world of simultaneous continental trade blocs, an open regionalism in which trade blocs undertake relatively modest external liberalization can usually produce Pareto improvement.
Author: Ernesto Stein
Publisher:
ISBN:
Category : Trade blocs
Languages : en
Pages : 60
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Book Description
Author: Jeffrey A. Frankel
Publisher: Peterson Institute for International Economics
ISBN:
Category : Business & Economics
Languages : en
Pages : 402
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Book Description
Covers trends from 1957 to 1995.
Author: Gibb
Publisher:
ISBN: 9780471965466
Category :
Languages : en
Pages : 302
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Author: Richard Gibb
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 312
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Book Description
Regional specialists systematically examine the topic of economic regionalism along with its wider theoretical and empirical perspectives. Analyzes some of the arguments and issues surrounding trading bloc formation, particularly whether regionalism is a result of, or a response to, a major change in the nature of contemporary capitalism. Explores the character, structure and components of existing trading bloc arrangements. Reviews the prospects and potential for NAFTA and concludes by gathering together the many conflicting trends evident in the regionalism versus multilateralism debate.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 170
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Book Description
Author: Jeffrey A. Frankel
Publisher:
ISBN:
Category : Customs unions
Languages : en
Pages : 28
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Book Description
