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Multilateralizing Trade and Payments in Postwar Europe

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  • Oatley, Thomas H.

Abstract

Europe's postwar shift to multilateral trade and payments arrangements was complicated by three factors. Distributional problems and uncertainty about the state of the world made European governments reluctant to adopt multilateral arrangements without financial support from the United States. An enforcement problem made U.S. policymakers reluctant to finance a European multilateral trading system. The severity of these problems was reduced by institutional designs that combined flexibility, centralization, and particular decision rules. Centralization and flexibility reduced uncertainty and softened distributive conflict. Centralization and particular decision rules solved the enforcement problem that U.S. policymakers faced.

Suggested Citation

  • Oatley, Thomas H., 2001. "Multilateralizing Trade and Payments in Postwar Europe," International Organization, Cambridge University Press, vol. 55(4), pages 949-969, October.
    • Handle: RePEc:cup:intorg:v:55:y:2001:i:04:p:949-969_44
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    Cited by:

    1. Erdey, László, 2004. "A működőtőke-áramlás a telephelyválasztás elméletének tükrében [The flow of operating capital in the light of the theory of location choice]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(5), pages 472-494.
    2. Baldwin, Richard, 2010. "Sequencing regionalism: Theory, European practice, and lessons for Asia," CEPR Discussion Papers 7852, C.E.P.R. Discussion Papers.
    3. Sarker, Pradip Kumar & Rahman, Md Saifur & Giessen, Lukas, 2018. "Regional governance by the South Asia Cooperative Environment Program (SACEP)? Institutional design and customizable regime policy offering flexible political options," Land Use Policy, Elsevier, vol. 77(C), pages 454-470.
    4. Pradip Kumar Sarker & Md Saifur Rahman & Lukas Giessen, 2019. "Regional economic regimes and the environment: stronger institutional design is weakening environmental policy capacity of the South Asian Association for Regional Cooperation," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 19(1), pages 19-52, February.
    5. Schäfer, Armin, 2003. "Stabilizing postwar Europe: Aligning domestic and international goals," MPIfG Working Paper 03/8, Max Planck Institute for the Study of Societies.

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