The depth of preferential trade agreements
Preferential trade agreements (PTAs) have increased rapidly in number since the 1990s, and have extended their traditional focus on tariff reduction to include deeper integration in policy areas such as competition policy, intellectual property rights, investments, and movement of capital. This pape...
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| Main Authors: | , , |
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2023
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| Online Access: | https://ink.library.smu.edu.sg/soe_research/2722 https://ink.library.smu.edu.sg/context/soe_research/article/3721/viewcontent/PTA_.pdf |
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| Institution: | Singapore Management University |
| Language: | English |
| Summary: | Preferential trade agreements (PTAs) have increased rapidly in number since the 1990s, and have extended their traditional focus on tariff reduction to include deeper integration in policy areas such as competition policy, intellectual property rights, investments, and movement of capital. This paper uses a comprehensive dataset on the content of PTAs to quantify the impacts of the depth of trade agreements on bilateral trade flows and national welfare across the world for the period 1980–2015. The results indicate that agreements that are deeper (by different definitions) contribute to larger trade growth and welfare gains. Furthermore, the results imply that the depth of trade agreements also matters for the interaction between regional integration (via PTAs) and multilateral trade liberalization (via GATT/WTO). |
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