Description - Trading Blocs by Jagdish N. Bhagwati
The recent proliferation of free trade areas and customs unions in the world trading system has led to a revival of interest in the economic analysis of Preferential Trade Agreements (PTAs). The principal theoretical question of the 1950s and 1960s (Viner) was whether PTAs encourage or discourage the worldwide nondiscriminatory freeing of trade. The essays in this volume present the central contributions to the analytical approaches developed to examine these questions. The first section of the book presents a synthesis and analytical guide to the issues, and to the theoretical research, as they have developed since 1950. The following sections contain the theoretical contributions themselves, grouped by analytical approach. This volume should enable graduate students, scholars of PTAs and policymakers concerned with trade liberalization to grasp the analytical relationships among the sometime disparate contributors of nearly a half century of theoretical research on PTAs.
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