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Hubs and Spokes, and Free Trade in the Americas / Carsten Kowalczyk, Ronald J. Wonnacott.
- Format:
- Book
- Author/Creator:
- Kowalczyk, Carsten.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w4198.
- NBER working paper series no. w4198
- Language:
- English
- Subjects (All):
- Free trade--Mathematical models.
- Free trade.
- International economic integration--Mathematical models.
- International economic integration.
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1992.
- Cambridge, Massachusetts : National Bureau of Economic Research, 1992.
- Summary:
- This paper compares two possible formats for free trade in the Americas: a system of spokes surrounding a U.S. hub, and a free trade area. The paper identifies the sources of welfare change, and it argues that a country's attitude towards a system depends on whether the arrangement is a complement or a substitute trading club. The paper argues also that rent-seeking activities, and costs of administration and transportation, are likely to be higher in a hub-and-spoke system than in a free trade area.
- Notes:
- Print version record
- October 1992.
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