Is Bilateralism Consistent with Global Free Trade?

Daniel E. May
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Daniel E. May: Business School, University of Wolverhampton, U.K.

International Journal of Business and Economics, 2008, vol. 7, issue 2, 137-152

Abstract: Some studies show that bilateralism is consistent with global free trade under pairwise stability. By using an alternative stability concept we find that this is not always the case. Nonetheless, a system of transfers could help to stabilize this condition.

Keywords: bilateralism; global free trade; network equilibrium (search for similar items in EconPapers)
JEL-codes: F12 F13 (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (4)

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