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Regional Free-Trade Areas: Sorting out the Tangled Spaghetti

Garnaut, Ross; Vines, David


As a result of the difficulties in negotiating the liberalization of trade globally, countries seek liberalization among smaller groups. We describe open regionalism as one such attempt to do this, and show why after a decade of success it ran into the ground as a strategy. The formation of discriminatory regional free-trade areas (FTAs) is sometimes seen as another response to this problem. This paper point outs what is wrong with this response - that it distorts trade patterns and thereby...[Show more]

CollectionsANU Research Publications
Date published: 2007
Type: Journal article
Source: Oxford Review of Economic Policy
DOI: 10.1093/oxrep/grm027


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