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| Author: | Kemp. M. |
| Title: | Welfare comparisons of customs unions |
| Journal: | Pacific Economic Review
2000 : FEB, VOL. 5:1, p. 1-3 |
| Index terms: | WELFARE CUSTOMS UNIONS |
| Language: | eng |
| Abstract: | The main purpose of this note is to establish a precise version of the proposition that, in the context of a worldwide constituency, a customs union is more beneficial or less harmful than a comparable but distinct free trade association. It is shown that, corresponding to each feasible tariff-ridden world trading equilibrium, there is Pareto-preferred and feasible free trade association; and there also is a Pareto-preferred and feasible Kemp-Wan customs union. |
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