Regionalization of the World Economy
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bilateral flows
business
capitalism
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Category=KCL
Category=KFFD
commerce
currencies
currency blocs
customs unions
economics
economy
endowments
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eq_business-finance-law
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eq_isMigrated=2
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eq_non-fiction
exchange rates
exports
finance
firms
free trade areas
ftas
gatt
geography
gravity models
imports
investment
labor
monetary policy
nafta
nonfiction
price differentials
regional
tariff
wealth
welfare
Product details
- ISBN 9780226259956
- Weight: 595g
- Dimensions: 16 x 23mm
- Publication Date: 24 Nov 1997
- Publisher: The University of Chicago Press
- Publication City/Country: US
- Product Form: Hardback
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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 caused some economists to be 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 text 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.
