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This paper studies the economic impact of regionalism under the realistic assumptions of constant tariffs and asymmetric bloc formation. Extending the Krugman framework, we decompose the impact into several components, each of which has a clear economic implication. Economic integration...
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May 2000 - Two theories are combined to explain why free trade areas (FTAs) have proliferated more than customs unions (CUs) have, and why FTAs are found more in North-South agreements and CUs in South-South agreements. Schiff combines two theories - one about how multilateral trade...
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