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Titel
The political economy of preferential trade agreements : an empirical investigation / Giovanni Facchini, Peri Silva, Gerald Willmann
VerfasserFacchini, Giovanni ; Silva, Peri ; Willmann, Gerald
ErschienenBielefeld, Germany : Universität Bielefeld, Faculty of Business Administration and Economics, December 2017
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Elektronische Ressource
Umfang1 Online-Ressource (51 Seiten) : Diagramme
SerieWorking papers in economics and management ; No. 09-2017
URNurn:nbn:de:hbz:6:2-127899 
DOI10.4119/unibi/2915974 
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The political economy of preferential trade agreements [1.21 mb]
Zusammenfassung

In this paper, we develop a political economy model to study the decision of rep- resentative democracies to join a preferential trading agreement (PTA), distinguishing between free trade areas (FTA) and customs unions (CU). Our theoretical analysis suggests that income inequality and bilateral trade imbalances are important factors in determining the formation of PTAs, while di erences in production structure among prospective member countries determine whether a CU or an FTA will emerge in equi- librium. Using a sample of 136 countries over the period 1960-2005, our empirical analysis lends strong support to these predictions: Income inequality and trade imbal- ances both reduce the likelihood of PTA formation, while geographical specialization increases the conditional probability of an FTA (over a CU).

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