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Regional Economic Integration and Article XXIV of the GATT

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  • Goto, Junichi
  • Hamada, Koichi

Abstract

This paper studies the economic impact of regionalism under the realistic assumptions of constant tariffs and asymmetric bloc formation. As an extension of the Krugman framework, the impact is decomposed into several components, each of which has a clear economic implication. Economic integration definitely worsens outsiders' welfare even if the external tariffs of the bloc are unraised. Bloc members' welfare first increases with the expansion of the bloc; but when about half of the world is united into the bloc, welfare begins to decrease. Simulation results shed some light on the incentive structure of major participants, who face various configurations of regional integration. Copyright 1999 by Blackwell Publishing Ltd.

Suggested Citation

  • Goto, Junichi & Hamada, Koichi, 1999. "Regional Economic Integration and Article XXIV of the GATT," Review of International Economics, Wiley Blackwell, vol. 7(4), pages 555-570, November.
    • Handle: RePEc:bla:reviec:v:7:y:1999:i:4:p:555-70
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    Cited by:

    1. Furusawa, Taiji & Konishi, Hideo, 2007. "Free trade networks," Journal of International Economics, Elsevier, vol. 72(2), pages 310-335, July.
    2. David Vines & Monika Mrazova, 2008. "Is the WTO's Article XXIV Bad?," Economics Series Working Papers 417, University of Oxford, Department of Economics.
    3. Ben Zissimos, 2011. "Why are Trade Agreements Regional?," Review of International Economics, Wiley Blackwell, vol. 19(1), pages 32-45, February.
    4. Mrázová, Monika & Vines, David & Zissimos, Ben, 2013. "Is the GATT/WTO's Article XXIV bad?," Journal of International Economics, Elsevier, vol. 89(1), pages 216-232.
    5. Mukunoki, Hiroshi, 2004. "On the optimal external tariff of a free trade area with internal market integration," Japan and the World Economy, Elsevier, vol. 16(4), pages 431-448, December.
    6. Lee, Jiwon & Wittgenstein, Teresa, 2017. "Weak vs. Strong Ties: Explaining Early Settlement in WTO Disputes," ILE Working Paper Series 7, University of Hamburg, Institute of Law and Economics.

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