Regionalism in a Multilateral World
Wilfred J. Ethier
University of Pennsylvania - Department of Economics
Journal of Political Economy
Recent regional initiatives have been addressed from a Vinerian perspective 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 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.
JEL Classification: F15, F13, F23Accepted Paper Series
Date posted: October 21, 1998
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
This page was processed by apollo7 in 0.281 seconds