Customs Unions and Special Protection

Chrysostomos Tabakis

The B.E. Journal of Economic Analysis & Policy, 2010, vol. 10, issue 1, 40

Abstract: This paper investigates the impact of customs unions (CUs) on the ability of countries to multilaterally cooperate within an economic environment characterized by trade-flow volatility. We find that the initiation of CU talks results in an easing of multilateral trade tensions, especially with regard to the employment of "special"-protection instruments, such as anti-dumping duties or safeguards. However, once the CU agreements come into force, a retreat to a more protectionist trading environment becomes necessary so that multilateral cooperation does not break down. Interestingly, in comparison with the pre-CU world, the utilization of "special"-protection tools in the post-CU world is more severe for "high" import volumes, but is less frequent overall. Moreover, "normal" protection remains low, largely unchanged from the pre-CU era.

Keywords: customs unions; special protection; regional trade agreements; multilateral cooperation; market power (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (8)

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DOI: 10.2202/1935-1682.2567

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