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The Regionalization of the World Economy
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Publisher:University of Chicago Press
Publication Date:1997-11-24
ISBN-10:0226259951
ISBN-13:9780226259956
Number of Pages:285 Pages
Book Type:hardcover
Weight:603 gram
Format of ebooks: PDF(Acrobat Reader) or Word version doc Document
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The Regionalization of the World Economy


Regional economic arrangements such as free trade areas (FTAs), customs unions, and currency blocs, have become increasingly prevalent in the world economy. Both pervasive and controversial, Regionalization has some economists optimistic about the opportunities it creates and others fearful that it may corrupt fragile efforts to encourage global free trade. Including both empirical and theoretical studies, this volume 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. Making extensive use of the gravity model of bilateral trade, several chapters explore the economic effects of regional arrangements. In addition, this book examines the theoretical foundation of the gravity model.
Abstract
Regional economic arrangements such as free trade areas (FTAs), customs unions, and currency blocs, have become increasingly prevalent in the world economy. Both pervasive and controversial, Regionalization has caused some economists to be optimistic about the opportunities it creates and others fearful that it may corrupt fragile efforts to encourage global free trade.

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