ARE PREFERENTIAL TRADE AGREEMENTS STUMBLING BLOCKS?

Kornkarun Cheewatrakoolpong

The Singapore Economic Review (SER), 2012, vol. 57, issue 04, 1-19

Abstract: This paper studies the effect of preferential trade agreements (PTAs) on multilateral trading system using a sequential bargaining game. The study considers two formats of PTAs, i.e., when the PTA tariffs are specified before the formation of PTAs and when PTA members have to negotiate PTA tariffs after the formation of PTAs. The study finds that PTAs with specified tariffs can be building blocks to multilateral liberalization while PTAs without specified tariffs are stumbling blocks. The paper also concludes that PTAs can eliminate bargaining inefficiency called forward manipulation when PTA tariffs are specified before PTA negotiation.

Keywords: Stumbling blocks; preferential trade agreement; WTO; trade negotiation; F13 (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1142/S0217590812500300

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