Regionalism in a multilateral world

Wilfred Ethier ()

No 314, Discussion Papers, Series II from University of Konstanz, Collaborative Research Centre (SFB) 178 "Internationalization of the Economy"

Abstract: Recent regional initiatives have been addressed from a Vinerian perspective of regional integration as a combination of trade creation and trade diversion. This is true both of policy-oriented economists, who tend to be critical of the initiatives, and of theorists, who have added dynamic and game-theoretic elements to the Vinerian structure. This paper describes the stylized facts of much recent regional integration, and develops an alternative model. The analysis suggests the possibility that regional integration, far from threatening multilateral liberalism, may in fact be a direct consequence of the success of past multilateralism and an added guarantee for its survival.

Keywords: Direct investment; regionalism; multilateralism; policy reform (search for similar items in EconPapers)
JEL-codes: F13 F15 F23 (search for similar items in EconPapers)
Date: 1996
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Citations: View citations in EconPapers (10)

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Related works:
Journal Article: Regionalism in a Multilateral World (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:kondp2:314

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