The political economy of trade liberalization / Linda Low.

Format:

Book

Government document

Author/Creator:

Low, Linda.

Language:

English

Subjects (All):

Economic and Social Development.

Local Subjects:

Economic and Social Development.

Physical Description:

1 online resource (23 pages)

Contained In:

Asia-Pacific Development Journal Vol. 11, no. 1, p. 1-23 11:1<1 24119873

Place of Publication:

New York : United Nations, 2005.

System Details:

text file

Summary:

The paper advances the view that while free trade and trade liberalization under the multilateral framework is the first best policy on purely theoretical grounds, the theory of the second best in the form of regional, plurilateral and bilateral free trade arrangements is at work in the real world. The methodology of economics is an important discipline; however, dysfunctional and power-structured multilateralism, heterogeneous economic structures and diverse development paths and levels render a political economy approach based on strategic pragmatism more realistic. In addition, empirical results have demonstrated that regional, plurilateral and bilateral free trade agreements can offer benefits to complement and supplement multilateralism provided these arrangements are consistent with the rules of the World Trade Organisation.

Access Restriction:

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