The Political Economy of Free Trade

Doren Chadee, Banjo Roxas () and Tim Rogmans
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Tim Rogmans: Zayed University

Chapter 2 in Prospects and Challenges of Free Trade Agreements: Unlocking Business Opportunities in Gulf Cooperation Council (GCC) Markets, 2015, pp 9-33 from Palgrave Macmillan

Abstract: Abstract This chapter has two goals. The first is to review the theoretical arguments why free trade can be beneficial for a country from both an economics and institutional perspectives. The second goal is to explain how, despite the potential benefits associated with free trade, countries still have a number of policies in place which restrict the freeflow of goods, services and capital. We review a number of these restrictive policies and show the extent of the benefits which are likely to arise as a result of their elimination through a free trade agreement (FTA). Lastly, the chapter concludes with a discussion of some of the limitations associated with bilateral and plurilateral (FTAs) in realising the full benefits of such agreements.

Keywords: Free Trade; World Trade Organisation; Free Trade Agreement; Informal Institution; Gulf Cooperation Council (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-47988-4_2

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DOI: 10.1057/9781137479884_2

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