The regionalization of the world economy / edited by Jeffrey A. Frankel.

Format:

Book

Contributor:

Frankel, Jeffrey A.

National Bureau of Economic Research.

Series:

National Bureau of Economic Research project report.

National Bureau of Economic Research project report

Language:

English

Subjects (All):

International economic integration.

International trade.

Regionalism.

Trade blocs.

Physical Description:

1 online resource (295 p.)

Edition:

1st ed.

Place of Publication:

Chicago : University of Chicago Press, c1998.

Language Note:

English

Summary:

Regional economic arrangements such as free trade areas (FTAs), customs unions, and currency blocs, have become increasingly prevalent in the world economy. Both pervasive and controversial, regionalization has some economists optimistic about the opportunities it creates and others fearful that it may corrupt fragile efforts to encourage global free trade. Including both empirical and theoretical studies, this volume addresses several important questions: Why do countries adopt FTAs and other regional trading arrangements? To what extent have existing regional arrangements actually affected patterns of trade? What are the welfare effects of such arrangements? Several chapters explore the economic effects of regional arrangements on patterns of trade, either on price differentials or via the gravity model on bilateral trade flows. In addition, this book examines the theoretical foundation of the gravity model. Making extensive use of the gravity model of bilateral trade, several chapters explore the economic effects of regional arrangements. In addition, this book examines the theoretical foundation of the gravity model.

Contents:

Front matter

National Bureau of Economic Research

Relation of the Directors to the Work and Publications of the National Bureau of Economic Research

Contents

Acknowledgments

Introduction

1. Determinants of Bilateral Trade: Does Gravity Work in a Neoclassical World?

2. The Role of History in Bilateral Trade Flows

3. Why Do Countries Seek Regional Trade Agreements?

4. Continental Trading Blocs: Are They Natural or Supernatural?

5. The Welfare Implications of Trading Blocs among Countries with Different Endowments

6. Regional Patterns in the Law of One Price: The Roles of Geography versus Currencies

7. Regionalization of World Trade and Currencies: Economics and Politics

8. Tariff Phase-Outs: Theory and Evidence from GATT and NAFTA

9. Overview

Contributors

Author Index

Subject Index

Notes:

Description based upon print version of record.

Includes bibliographical references and indexes.

ISBN:

9786611223410

9781281223418

1281223417

9780226260228

0226260224

OCLC:

212415959