Regional Trading Blocs in the World Economic System
By:Jeffrey A. Frankel,Ernesto Stein,Shang-Jin Wei
Published on 1997 by Peterson Institute
he rapid growth of regional trading relationships in Europe, Asia, and Latin America has raised policy concerns about their impact on excluded countries and on the global trading system. Some observers worrythat the multilateral system may be fracturing into discriminatory regional blocs. Others are hopeful that regional agreements will go beyond what was achieved in the Uruguay Round and instead become building blocks for further global liberalization and WTO rules in new areas.Jeffrey Frankel shows through extensive empirical analysis that the new breed of preferential trade arrangements are indeed concentrating trade regionally. He then assesses whether regionalblocs are |natural| or |supernatural|b enhance or reduce global welfare. He concludes that a complete liberalization within blocs, with no reduction in barriers between blocs, would push the trading system into the supernatural zone of an excessive degree of regionalization. More balanced patterns of liberalization, however, give favorable trading arrangements that are already in effect, and the broader continent-sized groupings that are under discussion (the Americas, Europe, and the Asia Pacific).
This Book was ranked at 39 by Google Books for keyword the world economy.
Book ID of Regional Trading Blocs in the World Economic System's Books is 1GNwBYHpy3cC, Book which was written byJeffrey A. Frankel,Ernesto Stein,Shang-Jin Weihave ETAG "9NLlLJ+YmU4"
Book which was published by Peterson Institute since 1997 have ISBNs, ISBN 13 Code is 9780881322026 and ISBN 10 Code is 0881322024
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