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Why a Marketplace Must Not Discriminate

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  • Langhammer, Rolf J.

Abstract

This paper discusses the pros and cons of a Transatlantic Free Trade Area (TAFTA) in comparison with an informal trade-facilitating marketplace between Europe and the US. It finds considerably more cons, especially since TAFTA would be expected to produce larger, more detrimental discriminatory effects on dynamic non-member economies, mainly in Asia but also in food-exporting regions as well. Efficiency-enhancing effects are argued to be achievable under a marketplace concept which does not separate insiders from outsiders. It is also shown that in foreign direct investment (FDI) and FDI-related service trade, TAFTA seems redundant as in recent years bilateral capital and trade flows have proven to be buoyant without preferential treatment.

Suggested Citation

  • Langhammer, Rolf J., 2009. "Why a Marketplace Must Not Discriminate," Business and Politics, Cambridge University Press, vol. 11(3), pages 1-23, October.
    • Handle: RePEc:cup:buspol:v:11:y:2009:i:03:p:1-23_00
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    Cited by:

    1. Dan Herman, 2012. "The missing movement: a Polanyian analysis of pre‐crisis America," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 39(8), pages 624-641, June.
    2. Natasha Hamilton-Hart, 2012. "Regional and multi-level governance: East Asian leadership after the global financial crisis," Asia Europe Journal, Springer, vol. 9(2), pages 237-254, March.

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