Is Regionalism Simply a Diversion? Evidence from the Evolution of the EC and EFTA

Tamim Bayoumi and Barry Eichengreen

No 1995/109, IMF Working Papers from International Monetary Fund

Abstract: This paper considers the impact on trade of preferential arrangements in Europe since the 1950s. Using a first difference version of the gravity model, we find that the EEC and EFTA altered the pattern of international trade. We also find evidence of trade diversion in several cases, notably that of the EEC in the 1960s.

Keywords: WP; EEC trade; trade creation; EEC membership; free trade; EFTA country; constant term; third-country effect; Customs unions; Gravity models; Purchasing power parity; Plurilateral trade; Trade agreements; Europe; Global; Asia and Pacific (search for similar items in EconPapers)
Pages: 31
Date: 1995-11-01
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Citations: View citations in EconPapers (96)

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Related works:
Chapter: Is Regionalism Simply a Diversion? Evidence from the Evolution of the EC and EFTA (1997)
Working Paper: Is Regionalism Simply a Diversion? Evidence from the Evolution of the EC and EFTA (1995)
Working Paper: Is Regionalism Simply a Diversion? Evidence From the Evolution of the EC and EFTA (1995)
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