The Impact of Incomplete Information under Bilateral and Multilateral Trade Policy Coordination

Young-Han Kim

Korean Economic Review, 2004, vol. 20, 135-155

Abstract: This paper examines the influences of informational distortion in bilateral and multilateral international trade policy coordination, and determines the optimal strategy under incomplete information. When a country owns private information about the indirect government intervention and other technical factors of its own firm, multilateral policy coordination mode is welfare dominant to the bilateral mode for a country under informational disadvantage. The world welfare is also improved with the adoption of multilateral coordination model from the initial stage of negotiation compared to bilateral one under incomplete information.

Keywords: Optimal policy coordination mode; incomplete information; bilateral and multilateral policy coordination (search for similar items in EconPapers)
JEL-codes: F12 F13 F15 (search for similar items in EconPapers)
Date: 2004
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