The Farsighted Stability of Global Trade Policy Arrangements

Berens S, Chochua L, Willmann G (2021) Universität Bielefeld Working Papers in Economics and Management; 11-2021, aktual. Version.
Bielefeld: Bielefeld University, Department of Business Administration and Economics.

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Abstract / Bemerkung
We study the stability of trade policy arrangements under two regulatory scenarios, with/without PTAs. Unlike previous papers, we consider an extensive set of trade policy constellations and allow for unlimited farsightedness of negotiating parties. We find global free trade (GFT) to be uniquely stable under symmetry, with/without PTAs. When two countries are smaller(larger) than the third, availability of PTAs decreases (increases) the stability of GFT. Away from symmetry, GFT is not attainable, and without PTAs the non-cooperative MFN regime is the only stable outcome. The effect of (dis-)allowing PTAs thus depends on the size asymmetry of countries.
Stichworte
Trade Policy Arrangements; Stability; Unlimited Farsightedness
Erscheinungsjahr
2021
Serientitel
Universität Bielefeld Working Papers in Economics and Management
Band
11-2021
Seite(n)
47
ISSN
2196-2723
Page URI
https://pub.uni-bielefeld.de/record/2956220

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Berens S, Chochua L, Willmann G. The Farsighted Stability of Global Trade Policy Arrangements. Universität Bielefeld Working Papers in Economics and Management. Vol 11-2021 aktual. Version. Bielefeld: Bielefeld University, Department of Business Administration and Economics; 2021.
Berens, S., Chochua, L., & Willmann, G. (2021). The Farsighted Stability of Global Trade Policy Arrangements (Universität Bielefeld Working Papers in Economics and Management, 11-2021) aktual. Version. Bielefeld: Bielefeld University, Department of Business Administration and Economics. https://doi.org/10.4119/unibi/2956220
Berens, S., Chochua, L., and Willmann, G. (2021). The Farsighted Stability of Global Trade Policy Arrangements. Universität Bielefeld Working Papers in Economics and Management, 11-2021, aktual. Version. Bielefeld: Bielefeld University, Department of Business Administration and Economics.
Berens, S., Chochua, L., & Willmann, G., 2021. The Farsighted Stability of Global Trade Policy Arrangements, Universität Bielefeld Working Papers in Economics and Management, no.11-2021, aktual. Version., Bielefeld: Bielefeld University, Department of Business Administration and Economics.
S. Berens, L. Chochua, and G. Willmann, The Farsighted Stability of Global Trade Policy Arrangements, Universität Bielefeld Working Papers in Economics and Management, vol. 11-2021, aktual. Version., Bielefeld: Bielefeld University, Department of Business Administration and Economics, 2021.
Berens, S., Chochua, L., Willmann, G.: The Farsighted Stability of Global Trade Policy Arrangements. Universität Bielefeld Working Papers in Economics and Management, 11-2021, aktual. Version. Bielefeld University, Department of Business Administration and Economics, Bielefeld (2021).
Berens, Stefan, Chochua, Lasha, and Willmann, Gerald. The Farsighted Stability of Global Trade Policy Arrangements. aktual. Version. Bielefeld: Bielefeld University, Department of Business Administration and Economics, 2021. Universität Bielefeld Working Papers in Economics and Management. 11-2021.
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2021-07-14T11:43:25Z
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