Industrial Targeting and Free Trade Areas

Earl L. Grinols and Peri Silva ()
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Earl L. Grinols: U of Illinois at Urbana-Champaign

Working Papers from University of Illinois at Urbana-Champaign, College of Business

Abstract: In this paper we construct a mechanism where any group of nations can form a welfare enhancing free trade area and, at the same time, satisfy their industrialization targets efficiently. The mechanism does not rely on cross-country transfers and, therefore, allows each member country to reap welfare gains from the formation of the free trade area. Since industrialization targets are satisfied and neither tariff harmonization nor cross-country transfers are necessary, the mechanism presented in this paper is politically palatable.

JEL-codes: D60 E13 F15 (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:ecl:illbus:03-0109

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