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The regionalization of the world economy

Autore: Jeffrey A Frankel
Editore: Chicago : University of Chicago Press, ©1998.
Serie: National Bureau of Economic Research project report.
Edizione/Formato:   Libro : EnglishVedi tutte le edizioni e i formati
Banca dati:WorldCat
Sommario:
Regional economic arrangements such as free trade areas (FTAs), customs unions, and currency blocs have become increasingly prevalent in the world economy. Regionalization is both pervasive and controversial. Some economists are optimistic about the opportunities it creates; others are fearful that it may corrupt fragile efforts to encourage global free trade. This volume, which includes both empirical and
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Tipo materiale: Risorsa internet
Tipo documento: Book, Internet Resource
Tutti gli autori / Collaboratori: Jeffrey A Frankel
ISBN: 0226259951 9780226259956
Numero OCLC: 36806657
Descrizione: ix, 285 p. : ill. ; 24 cm.
Contenuti: Determinants of bilateral trade: does gravity work in a neoclassical world? / Alan V. Deardorff; comment / Jeffrey H. Bergstrand ; Gene M. Grossman --
Role of history in bilateral trade flows / Barry Eichengreen and Douglas A. Irwin; comment / Robert Lawrence ; Paul Wonnacott --
Why do countries seek regional trade agreements? / John Whalley; comment / Eric W. Bond ; Dani Rodrik --
Continental trading blocs : are they natural or supernatural / Jeffrey A. Frankel, Ernesto Stein, and Shang-Jin Wei ; comment / Paul Krugman ; T.N. Srinivasan --
Welfare implications of trading blocs among countries with different endowments / Antonio Spilimbergo and Ernesto Stein; comment / Jon Haveman ; Edward E. Leamer --
Regional patterns in the law of one price : the roles of geography versus currencies / Charles Engel and John H. Rogers; comment / Kenneth A. Froot ; Michael Knetter --
Regionalization of world trade and currencies : economics and politics / Jeffrey A. Frankel and Shang-Jin Wei ; comment / David Hummels ; Philip I. Levy --
Tariff phase-outs : theory and evidence from GATT and NAFTA / Carsten Kowalczyk and Donald Davis; comment / Arvind Panagariya and Robert W. Staiger.
Titolo della serie: National Bureau of Economic Research project report.
Responsabilità: edited by Jeffrey A. Frankel.
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Abstract:

Regional economic arrangements such as free trade areas (FTAs), customs unions, and currency blocs have become increasingly prevalent in the world economy. Regionalization is both pervasive and controversial. Some economists are optimistic about the opportunities it creates; others are fearful that it may corrupt fragile efforts to encourage global free trade. This volume, which includes both empirical and theoretical studies, addresses several important questions: Why do countries adopt FTAs and other regional trading arrangements? To what extent have existing regional arrangements actually affected patterns of trade? What are the welfare effects of such arrangements?

Several chapters explore the economic effects of regional arrangements on patterns of trade, either on price differentials or via the gravity model on bilateral trade flows. In addition, this book examines the theoretical foundation of the gravity model. The gravity model is supported as a useful method for empirical analysis, first by Deardorff's masterly demonstration of its theoretical underpinnings in virtually all trade models, then by flexible and subtle applications with adequate robustness checks. The papers collectively provide the first concentrated generalization and data-centered execution of Krugman's influential early-1990s bilateralism model.

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