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Returns to regionalism : an evaluation of non-traditional gains from regional trade agreements / Raquel Fernandez.
- Format:
- Book
- Government document
- Author/Creator:
- Fernandez, Raquel, 1959-
- Series:
- Policy research working papers ; 1816.
- World Bank e-Library.
- Policy research working paper ; 1816
- Language:
- English
- Subjects (All):
- European Union countries--Commercial policy.
- European Union countries.
- North America--Commercial policy.
- North America.
- Physical Description:
- ii, 31 pages : illustrations ; 28 cm.
- Other Title:
- Returns to regionalism
- Policy research working paper 1816
- Place of Publication:
- Washington, DC : World Bank, International Economics Dept., International Trade Division, [1997]
- System Details:
- data file
- Summary:
- The last decade has witnessed an explosion in the number of regional trade agreements (RTAs). There seems to be a general if ill-defined belief on the part of many policy-makers, and among a number of academics as well, that there is more to a RTA than the traditional gains from trade. This paper examines several possible benefits that RTAs may confer to their partners, including credibility, signaling, bargaining power, insurance, and coordination. It assesses the necessary conditions for each of these candidates to work; gives stylized examples of specific types of policy where it might be applicable; examines real cases where the explanation might be relevant; and discusses their overall plausibility. It concludes by examining NAFTA and the Europe Agreements viewed in this light.
- Notes:
- Print version record
- March 1997.
- Includes bibliographical references (p. 29-31).
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