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Regionalism and Multilateral Trade Liberalization with Asymmetric Countries

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  • Costas Hadjiyiannis

Abstract

The paper examines the impact of regionalism on the process of multilateral trade liberalization when countries are asymmetric. The author uses a three‐country, three‐good, competing exporters model, with countries being symmetric in everything but their discount factors. The equilibrium regional agreement is found to be a customs union between a patient and an impatient country and that the impact of regionalism depends on the discount factors. The impact of regionalism on multilateral trade liberalization depends critically on which countries engage in regionalism.

Suggested Citation

  • Costas Hadjiyiannis, 2004. "Regionalism and Multilateral Trade Liberalization with Asymmetric Countries," Review of International Economics, Wiley Blackwell, vol. 12(3), pages 395-411, August.
    • Handle: RePEc:bla:reviec:v:12:y:2004:i:3:p:395-411
    DOI: 10.1111/j.1467-9396.2004.00457.x
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    1. Baldwin,Richard & Haapararanta,Pertti & Kiander,Jaakko (ed.), 1995. "Expanding Membership of the European Union," Cambridge Books, Cambridge University Press, number 9780521481342.
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    Cited by:

    1. Kamal Saggi & Alan Woodland & Halis Murat Yildiz, 2018. "On the Relationship between Preferential and Multilateral Trade Liberalization: The Case of Customs Unions," World Scientific Book Chapters, in: Kamal Saggi (ed.), Economic Analysis of the Rules and Regulations of the World Trade Organization, chapter 9, pages 186-222, World Scientific Publishing Co. Pte. Ltd..
    2. Guyslain K. Ngeleza & Andrew Muhammad, 2015. "Preferential Trade Agreements Between the Monetary Community of Central Africa and the European Union: Stumbling or Building Blocks? A General Equilibrium Approach," Journal of International Development, John Wiley & Sons, Ltd., vol. 27(2), pages 251-272, March.

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