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Regional Cooperation among Microstates

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  • Soamiely Andriamananjara
  • Maurice Schiff

Abstract

Owing to their low bargaining power and high negotiation costs, microstates face severe disadvantages when dealing with the outside world. Forming a group with neighboring nations might be an effective instrument to address this problem. This paper presents a model in which the decision to form, expand or join a regional club is based on negotiation costs and bargaining power rather than on the traditional costs and benefits of trade integration. The model is used to determine the optimal and the equilibrium group size under various entry conditions. The welfare implications of the entry conditions are also examined.

Suggested Citation

  • Soamiely Andriamananjara & Maurice Schiff, 2001. "Regional Cooperation among Microstates," Review of International Economics, Wiley Blackwell, vol. 9(1), pages 42-51, February.
    • Handle: RePEc:bla:reviec:v:9:y:2001:i:1:p:42-51
    DOI: 10.1111/1467-9396.00262
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    Cited by:

    1. Ms. Patrizia Tumbarello, 2005. "Regional Trade Integration and WTO Accession: Which Is the Right Sequencing? An Application to the CIS," IMF Working Papers 2005/094, International Monetary Fund.
    2. Emiko Fukase & L. Alan Winters, 2003. "Possible Dynamic Effects of AFTA for the New Member Countries," The World Economy, Wiley Blackwell, vol. 26(6), pages 853-871, June.
    3. Vinokurov, Evgeny, 2009. "EDB Eurasian Integration Yearbook 2009," MPRA Paper 20917, University Library of Munich, Germany.

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