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Trade negotiations when market access matters.

Abstract:

This paper analyses GATT/WTO trade negotiations in an oligopolistic multi-country setting and identifies a new rationale for trade agreements. When set unilaterally, tariffs are inefficiently high, both for familiar terms-of-trade reasons, but also to restrict market access of foreign firms. Trade agreements neutralise both the terms-of-trade and the market-access externalities and help countries reach efficient tariff levels. The paper further studies various kinds of asymmetries in trade...

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Authors


Monika Mrazova More by this author
Volume:
447
Series:
Discussion paper series
Publication date:
2009
URN:
uuid:9ec19e40-2850-4b23-9b91-6029e99e7b9b
Local pid:
oai:economics.ouls.ox.ac.uk:14272
Language:
English

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