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| Author: | Baldwin, R. E. |
| Title: | the Causes of Regionalism |
| Journal: | World Economy
1997 : NOV, Vol. 20:7, p. 865-888 |
| Index terms: | GLOBAL MARKETING REGIONAL DEVELOPMENT STANDARD OF LIVING |
| Language: | eng |
| Abstract: | The rapid spread of regionalism is surely the most important recent development in the global trade system. The big question - "Is regionalism bad?" - has three parts. 1) Do existing regional liberalisation efforts harm living standards in participating or nonparticipating countries? 2) To date, has regionalism harmed the world's trading system and hindered multilateral trade liberalisation? 3) Is regionalism likely to damage the global trade system in the future? Economists who are familiar with the literature largely agree on the first part's answer. Almost all empirical studies of European and North American arrangements find positive impacts on members' living standards and inconsequential impacts on nonmembers' living standards. |
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