Chapter

Evolution of the Most Favoured Nation Principle Up to 1929

Richard Pomfret

in The Economics of Regional Trading Arrangements

Published in print November 2001 | ISBN: 9780199248872
Published online November 2003 | e-ISBN: 9780191596797 | DOI: http://dx.doi.org/10.1093/0199248877.003.0002
 Evolution of the Most Favoured Nation Principle Up to 1929

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Deals with the international economic system established in the 1860s and its operation until 1929. Section 1 analyses why the most‐favoured nation (MFN) principle emerged. Unconditional MFN treatment came to dominate intra‐European trade by the 1870s, although the USA maintained conditional MFN treatment. Section 2 analyses the growing protectionism between the 1870s and 1914, which undermined the system of non‐discriminatory trade relationships. Section 3 addresses attempts during the 1920s to re‐establish the pre‐1914 system. Section 4 examines the trading relationships between imperial powers and their colonies. Section 5 draws conclusions about the period.

Keywords: colonies; Europe; most‐favoured nation; protectionism; trade; USA

Chapter.  6902 words. 

Subjects: International Economics

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