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The Economics of Regional Trading Arrangements
Richard Pomfret
466 pages
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12 figures
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216x138mm
978-0-19-924887-2
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Paperback
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01 November 2001
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This item is printed to order. Items which are printed to order are normally despatched and charged within 5-10 days.
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- New-in-paperback edition with a brand-new Preface
- Highly topical subject relevant to developments in the EC and the establishment of NAFTA and the WTO
- Combines history, theory, and a review of empirical studies
- Provides a unified analysis of policies which discriminate among trade partners including customs union theory, regional trading arrangements, non-tariff barriers and sanctions
barriers and sanctions
- Rigorous yet accessible
The Economics of Regional Trading Arrangements provides a unified analysis of policies which discriminate among trading partners. With the European Union's 1992 programme, the formation of NAFTA, and attempts to form or strengthen regional trading arrangements in South America, southern Africa, and Southeast Asia regionalism became a major issue in international commercial diplomacy during the early 1990s. The proliferation of RTAs was viewed by some as a challenge, and by others as a complement, to the establishment of the World Trade Organization as the successor to GATT.
Richard Pomfret analyses the new RTAs, situating them in the broader realm of discriminatory trade
policies for which there is a well-defined body of theory and empirical studies, before asking whether the new regionalism requires new theoretical analysis. His approach is to combine in roughly equal proportions history, theory, and a review of empirical studies. This is appropriate given that the key theoretical result is the welfare ambiguity of discriminatory trade policy changes. Empirical studies can provide a sense of which of the potentially offsetting effects are more or less important. Since some effects may take a long time to have their full impact and may be systemic, it is also useful to observe how RTAs have evolved in practice.
This new-in-paperback edition of The Economics of Regional Trading Arrangements includes a brand-new Preface in which
Pomfret surveys three important developments that occurred during the second half of the 1990s: the onset of a third wave of regionalism, the reintegration of formerly centrally planned economies into the global trading system, and theoretical developments, including the significance of national boundaries. This up-to-date survey will appeal to trade theorists as well as to anyone involved in policy institutions.
Readership: Academics, policy-makers, and graduate students involved with and interested in the world trading system.
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Richard Pomfret, University of Adelaide
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Review(s) from previous edition
"At a time when the world treaty system seems to be caught up in a burst of enthusiasm for preferential trading arrangements, Richard Pomfret's book is especially welcome. In my judgement, it provides the best analysis yet available of the economics of these arrangements. - Anne O. Krueger, Stanford University.
"...considers a wide range of aspects that are discussed and evaluated carefully. The book is a very useful and honest survey of a complex and controversial subject.
" - Frank Dietler, Universitat Basel.
"A thorough, balanced, and wide-ranging summary and analysis of regional trading arrangements. This book is a tour de force. The index and extensive list of references further contribute to the usefulness of the book." - R.L. Lucier, CHOICE, December 1998.
"Pomfret's study is one of the best available surveys of the varied issues that regionalism presents in its specifically trading aspects. [His] review of mainstream theory and its leading extensions is a model of penetration and clarity.
" - Economic Journal
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List of tables. List of figures. Abbreviations.
1. Introduction.
PART I: HISTORY
Introduction to Part I
2.: Evolution of the Most-Favoured Nation Principle up to 1929
3: Commercial Policies in the 1930s
4: Non-discrimination in the GATT
5: Discrimination in International Trade, 1947-1985
6: Regionalism versus Multilateralism during the Uruguay Round
7: Regionalism and the World Trade Organization
PART II: THEORY
Introduction to Part II
8: The Mainstream from Viner to the JCM Proposition
9: Extending the Model
10: The New Regionalism
11: Numbers and Geography
PART III: EMPIRICAL EVIDENCE 14. Other Free Trade Areas and Customs Unions. 15. Trade Preferences for Developing Countries. 16. Global Issues.
Introduction to Part III
12: Western European Integration
13: North America
14: Other Free Trade Areas and Customs Unions
15: Trade Preferences for Developing Countries
16: Global Issues
PART IV: POLITICAL ECONOMY
Introduction to Part IV
17: Why do Discriminatory Trading Arrangements Exist?
18: Consequences for the International Trading System
19: Summary and Prospects
Appendix: Discriminatory Trading Arrangements between the USA and Canada before CUSTA
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The specification in this catalogue, including without limitation price, format, extent, number of illustrations, and month of publication, was as accurate as possible at the time the catalogue was compiled. Occasionally, due to the nature of some contractual restrictions, we are unable to ship a specific product to a particular territory. Jacket images are provisional and liable to change before publication.
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