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Going Alone: The Case for Relaxed Reciprocity in Freeing Trade

Editor

Listed:
  • Jagdish Bhagwati
    (Columbia University)

Abstract

Since the end of World War II, the freeing of trade has been most visible in reciprocal liberalization agreements negotiated under the General Agreement on Tariffs and Trade, or GATT, and through increasing bilateral and plurilateral agreements. There has also, however, been a significant, if less visible, unilateral freeing of trade by several nations. This book, based on a research project directed by Jagdish Bhagwati, examines the experiences with such unilateral trade liberalization. Part 1 considers historical experiences, following Britain's unilateral embrace of free trade. Part 2 discusses recent examples, and Part 3 discusses unilateral liberalization in specific sectors. The substantive introduction provides a synthesis of the findings as well as theoretical support. It argues that although unilateral freeing of trade is generally less beneficial than reciprocity, it can trigger "sequential" reciprocity through example or by encouraging lobbies abroad to favor trade expansion.

Suggested Citation

  • Jagdish Bhagwati (ed.), 2002. "Going Alone: The Case for Relaxed Reciprocity in Freeing Trade," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262025213, April.
    • Handle: RePEc:mtp:titles:0262025213
    as

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    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Recent Brexit Trade Drama Shows that Europe Doesn't Really Want Free Trade
      by Tyler Durden in Zero Hedge on 2018-11-04 07:00:00

    Citations

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    Cited by:

    1. Taiji Furusawa & Takashi Kamihigashi, 2012. "Threats Or Promises? A Built-In Mechanism Of Gradual Reciprocal Trade Liberalization," The Japanese Economic Review, Japanese Economic Association, vol. 63(2), pages 259-279, June.
    2. Alvaro Forteza & Daniel Buquet & Mario Ibarburu & Jorge Lanzaro & Andrés Pereyra & Eduardo Siandra & Marcel Vaillant, 2003. "Understanding reform. The Uruguayan case," Documentos de Trabajo (working papers) 0603, Department of Economics - dECON.
    3. Paul Wonnacott & Ronald Wonnacott, 2005. "What's the Point of Reciprocal Trade Negotiations? Exports, Imports, and Gains from Trade," The World Economy, Wiley Blackwell, vol. 28(1), pages 1-20, January.
    4. Tu, Anh Thuy & Beghin, John C., 2004. "Intra-Industry Trade, Imperfect Competition, Trade Integration and Invasive Species Risk," 2004 Annual meeting, August 1-4, Denver, CO 20032, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    5. Ralph Ossa, 2011. "A "New Trade" Theory of GATT/WTO Negotiations," Journal of Political Economy, University of Chicago Press, vol. 119(1), pages 122-152.

    More about this item

    Keywords

    free trade; reciprocity; trade expansion;
    All these keywords.

    JEL classification:

    • F1 - International Economics - - Trade

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