Do preferential trade agreements provide reasonable insurance?

Craig Applegate and Chris Sadleir

International Journal of Public Policy, 2013, vol. 9, issue 4/5/6, 389-399

Abstract: Preferential trade agreements have been criticised for not increasing economic welfare relative to the status quo. In this article, we suggest that even if this is the case, they offer a reasonable form of insurance against possible adverse trade or investment policies in the future. In Australia, preferential trade agreements have been controversial with the release of a Productivity Commission report in 2010 and the commonwealth government's response to it in 2011. A particularly controversial aspect of such agreements is whether they should include investor-state dispute resolution mechanisms which are often considered unnecessary in a country subject to the rule of law.

Keywords: preferential trade agreements; PTAs; free trade agreements; FTAs; regional trade agreements; investment promotion agreements; investment protection agreements; IPPAs; international trade; foreign investment; reasonable insurance; public policy; Australia; investor-state dispute resolution. (search for similar items in EconPapers)
Date: 2013
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