Chapter 6 Normative Comparisons of Customs Unions and Other Types of Free Trade Association

Murray Kemp

A chapter in Globalization and Emerging Issues in Trade Theory and Policy, 2008, pp 77-86 from Emerald Group Publishing Limited

Abstract: Purpose – The chapter examines whether the well-known Kemp–Wan proposition about customs unions is valid for free trade associations (FTAs). Methodology/approach – The chapter employs the assumption of perfect competition but with considerable generality. Findings – It is shown that the Kemp–Wan proposition is valid for any form of FTA. It is also shown that sense can be made of the common conjecture that a customs union is more beneficial to the world economy than a comparable but distinct FTA. Originality/value – The findings are of significance in view of the recent tendency of governments to prefer FTAs to customs unions.

Keywords: Trade gains; customs unions; free trade associations; Research paper (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:eme:fegzzz:s1574-8715(08)05006-9

DOI: 10.1016/S1574-8715(08)05006-9

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