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| Author: | Grinols, E. L. Silva, P. |
| Title: | An enhancement of modern free trade area theory |
| Journal: | Oxford Economic Papers
2007 : APR, VOL 59:2, p. 219-225 |
| Index terms: | free trade |
| Freeterms: | wellfare |
| Language: | eng |
| Abstract: | This paper discusses a framework for welfare effects of free trade areas and provides an alternatve verification on the Panagariya-Krishna propositions on free trade areas, shortening the proof, covering a broader set of circumstances, and showing the necessary income frows to guarantee welfare gains to all members. The results provide a theoretical parallel to the important Kemp and Wan customs union theory. |
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