Customs Unions and the Core

Raymond Riezman

Chapter 3 in International Trade Agreements and Political Economy, 2013, pp 33-43 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractCustoms union formation is modeled as a two-stage game. In the first stage countries make coalitional choices according to core theory. In the second stage optimal tariffs are determined. This yields a theory that predicts which customs unions form. An example shows that a customs union can be an equilibrium even when both member countries do better at free trade.

Keywords: International Trade; Political Economy; Theory of International Free Trade Agreements; Customs Unions; Tariff Dynamics; Storable Votes (search for similar items in EconPapers)
Date: 2013
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Journal Article: Customs unions and the core (1985)
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