Trade Policy and Regional Integration: Implications for the Relations between Europe and Africa

Paul Collier and John Toye

No 1012, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: For Africa, a regional customs union is unlikely to realise net welfare gains (in the sense of trade creation dominating trade diversion) which cannot be attained through unilateral trade liberalization. Unilateral reform has often failed in Africa, however. A regional customs union tied to Europe with reciprocal free trade is likely to dominate unilateral liberalization in several ways. Most importantly, it would make trade liberalization credible and thereby easier to sustain.

Keywords: Credibility; Reciprocal Distrimination; Regional Integration; Trade Liberalization (search for similar items in EconPapers)
JEL-codes: F02 F13 F15 F36 O19 O55 (search for similar items in EconPapers)
Date: 1994-07
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