Economic costs and payoffs of bilateral/regional trade agreements

Thomas Vollrath (tlvollrath@me.com) and Charles B. Hallahan

No 49375, 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin from Agricultural and Applied Economics Association

Abstract: The rapid increase in the number of bilateral and regional free-trade agreements since 1995 is a striking development. The proliferation of these agreements has raised questions among academicians and policymakers about whether they have, in fact, opened markets, created trade, promoted economic growth, and/or distorted trade. This study uses panel data from the 1975-2005 period and the gravity framework to identify the influence of bilateral/regional free-trade agreements on bilateral trade in merchandise, agriculture, and clothing sectors. A benchmark, Heckman sample-selection, and two generalized models, one of which accounts for reciprocal-free-trade-agreement phase-in effects, are used to gauge the impact on partner trade of mutual as well as asymmetric RTA membership.

Keywords: Agricultural; and; Food; Policy (search for similar items in EconPapers)
Pages: 36
Date: 2009
New Economics Papers: this item is included in nep-int
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea09:49375

DOI: 10.22004/ag.econ.49375

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