Are global trade negotiations behind a fragmented world of gated globalization?
نویسندگان
چکیده
In a simple model where global trade negotiations precede sequential Free Trade Agreement (FTA) formation, we show global tari¤ negotiations can prevent global free trade: FTA formation can yield global free trade in the absence of global tari¤ negotiations, but global free trade never emerges when global tari¤ negotitaions precede FTA formation. Intuitively, global tari¤ negotiations can prevent global free trade precisely because they are successful in eliciting concessions from negotiating countries. Moreover, global tari¤ negotiations can produce a fragmented world of gated globalizationwhere some countries form FTAs eliminating tari¤ barriers among themselves while outsiders continue facing higher tari¤s. JEL codes: C73, F12, F13
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