UNILATERALISM IN A MULTILATERAL WORLD

Wilfred J. Ethier

Chapter 12 in The Floating World:Issues in International Trade Theory, 2014, pp 241-267 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This paper addresses the interplay between unilateralism and multilateralism. I describe their stylised facts and present a simple, multi-country model with high initial tariffs and features that have always been of paramount concern to policy makers, and allow governments to negotiate multilateral agreements. I then find a role for a system with features remarkably similar to contemporary unilateralism. The relationships between multilateralism and unilateralism are subtle: Unilateralism has the properties it has because the world is multilateral (the insurance triangle); useful unilateralism requires a multilateral component resulting from a compatibility problem between those who negotiate multilaterally and those who establish unilateralism…

Keywords: International Trade; Scale Economies; Factor Endowments; Political Economy of Trade Policy; Economic Integration (search for similar items in EconPapers)
Date: 2014
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