Regionalism In Trade Policy : Essays On Preferential Trading - Arvind Panagariya

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Regionalism In Trade Policy

Essays On Preferential Trading

By: Arvind Panagariya

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Paperback | 20 October 1999

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244 Pages

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21.59 x 15.24 x 1.91

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This collection of essays offers an assessment of the economic impact of preferential trade areas (PTAs) on member countries and the world. The text presents a theoretical analysis of the issues using economic models and also studies the relationahip between regionalism and multilateralism. Subsequent sections examine the role of PTAs in Asia, North America, and Latin America. The general theme of the volume is that, on balance, trade liberalization through PTAs is a mistake, and that the consequences of PTAs - increased tariffs for non-member countries - are likely to undermine the multilateral trading system.

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Non-Fiction Law Laws of Specific Jurisdictions Company Law Commercial Law Jurisprudence & General Issues Law as it Applies to Other Professions Economics International Economics International Trade Trade Agreements Business & Management

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Preface	p. xi
List of Figures	p. xv
List of Tables	p. xvii
Overview	p. 1
The Regionalism Debate: An Overview	p. 3
Introduction	p. 3
Definitions	p. 4
WTO Provisions for PTAs	p. 5
Historical Evolution	p. 7
Effects on Union Members	p. 9
Vinerian Analysis: Welfare Effects of a Tariff Preference	p. 9
Transport Costs and PTAs	p. 14
Rules of Origin in FTAs	p. 15
Non-traditional Gains: Guaranteed Market Access, Shelter from Contingent Protection, Locking-in the Reforms and Dispute Settlement	p. 17
Implications for the Global Trading System	p. 19
Can PTA Expansion Lead to Global Free Trade?	p. 20
Do PTAs Make Multilateral Liberalization Less Likely?	p. 21
Do PTAs Lead to a Rise in Trade Barriers against Nonmembers?	p. 24
The Spaghetti-Bowl Phenomenon	p. 30
WTO-Illegal Policies in PTAs	p. 31
Open Regionalism	p. 31
"Deep" Integration	p. 38
Conclusions: Minimizing the Adverse Effects of PTAs	p. 39
References	p. 42
Preferential Trading Areas and Multilateralism: Strangers, Friends or Foes?	p. 47
Introduction	p. 47
Phrases and Concepts	p. 50
Phrases	p. 50
Concepts	p. 51
Rethinking Static Welfare Analysis	p. 52
The Issues Examined	p. 52
The Theoretical Analysis	p. 54
Theoretical Analyses of the Dynamic Time-Path Question	p. 92
Formulating the Time-Path Question	p. 92
Question Originating in Policy	p. 94
"Exogenously-determined" Time-Paths: A Diversion	p. 96
Incentive Structure Arguments	p. 97
Recent Theoretical Analyses	p. 99
The Sequential Bargaining Argument	p. 101
Implications for Current Policy	p. 102
The Politics of PTAs	p. 103
The "Spaghetti Bowl" Phenomenon	p. 104
PTAs with and among Hegemons	p. 104
PTAs among the Nonhegemons	p. 104
Concluding Remarks	p. 105
References	p. 107
East Asia	p. 113
Should East Asia Go Regional?	p. 115
Introduction	p. 115
The Economics of Discriminatory Liberalization	p. 117
Trade Creation and Trade Diversion	p. 117
A Puzzle: Why form an FTA when Nondiscriminatory, Unilateral Liberalization is Superior?	p. 120
The Attraction of Regionalism: Some Answers?	p. 121
Should East Asia Go Regional?	p. 126
Sub-Regional Groupings? No	p. 126
An East Asian Trading Bloc? No	p. 137
Region-wide Nondiscriminatory Liberalization? Maybe	p. 144
APEC and Regionalism in Asia	p. 149
Conclusions	p. 150
References	p. 152
APEC and the United States	p. 155
Evolution of the U.S. Trade Policy	p. 155
APEC and the United States	p. 160
Liberalization within the APEC Framework	p. 163
An APEC FTA?	p. 165
Back to Multilateralism	p. 167
References	p. 173
Latin America	p. 175
Free Trade Area of the Americas: Good for Latin America?	p. 177
Introduction	p. 177
Mercantilist Bias in the Effects of Discriminatory Liberalization	p. 180
Preferential Tariff Liberalization: The Basic Case	p. 181
Beyond the Basic Case	p. 185
FTAs under Quotas	p. 187
Non-traditional Gains from North-South Integration	p. 188
NAFTA	p. 189
Static Welfare Gains	p. 191
Non-traditional Gains	p. 192
A Digression to the European Union	p. 198
The Free Trade Area of the Americas	p. 199
Regionalism and Harmonization	p. 208
A Summary of Conclusions	p. 209
References	p. 212
An Empirical Estimate of Static Welfare Losses to Mexico from NAFTA	p. 215
Introduction	p. 215
The Theoretical Framework	p. 215
The Case of NAFTA	p. 219
Concluding Remarks	p. 222
References	p. 224
Subject Index	p. 225
Table of Contents provided by Syndetics. All Rights Reserved.

Regionalism In Trade Policy

Essays On Preferential Trading

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