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What Caused the Resurgence of Regionalism?

Richard Baldwin ()

Swiss Journal of Economics and Statistics (SJES), 1995, vol. 131, issue III, 453-463

Abstract: This paper argues that the stark contrast between the ease of regional liberalisation and the glacial pace of GATT talks does not reflect a GATT failure or the US's conversion from devoted multilateralist to ardent regionalist. GATT Rounds have always been long, have always been slow and have always been difficult. Indeed it does not even reflect a systemic phenomenon. I propose that the current wave of regionalism stems from two idiosyncratic events - one in the New World and one in the Old - that have been multiplied many times over by a domino effect.

Date: 1995
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