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| Author: | Macho-Stadler, I. Xue, L. |
| Title: | Winners and losers from the gradual formation of trading blocs |
| Journal: | Economica
2007 : VOL. 74:296, p. 664-681 |
| Index terms: | international relations policy economic integration treaties terms of trade free trade trade barriers statistical methods models |
| Language: | eng |
| Abstract: | In spite of global free trade (hereafter as: f-t.) being efficient, each country's benefit from f-t. depends on the path leading to the global free trade agreement. Using a dynamic model of trading bloc formation, it is shown that when global f-t. is reached gradually, the countries excluded gain less than the rest and may be even made worse-off by the final f-t. agreement than they were in the initial state of no trading blocs. |
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