Download This PaperFree Trade, Customs Unions, and Transfers
46 Pages Posted: 11 Aug 2003
Date Written: July 2003
Abstract
All countries would agree to immediate global free trade if countries were compensated for any terms-of-trade losses with transfers from countries whose terms-of-trade improve, and if customs unions were required to have no effects on non-member countries. Global free trade with transfers is in the core of a Kemp-Wan-Grinols customs union game.
Keywords: Free Trade, Customs Unions, Free Trade Areas, GATT/WTO, Multilateralism, Transfers
JEL Classification: F00, F02, F10, F11, F13, F15
Suggested Citation: Suggested Citation
Konishi, Hideo and Kowalczyk, Carsten and Sjöström, John Tomas, Free Trade, Customs Unions, and Transfers (July 2003). Available at SSRN: https://ssrn.com/abstract=428346 or http://dx.doi.org/10.2139/ssrn.428346
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