Chapter

The New Regionalism

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/10.1093/0199248877.003.0010
 The New Regionalism

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Analyses the new regionalism that emerged in the mid‐1980s. By downplaying the significance of trade diversion and emphasizing scale‐based and pro‐competitive benefits of integration, the new regionalism had a more positive vision of RTAs than mainstream customs union theory had. Section 1 introduces economies of scale and imperfect competition. Section 2 analyses non‐tariff barriers to trade. Section 3 covers ‘new areas’ of foreign investment, competition policy, and monetary integration, which had not featured in mainstream customs union theory. Section 4 deals with rules of origin, which had emerged as a major trade policy issue in the 1980s and 1990s.

Keywords: customs union; economies of scale; foreign investment; imperfect competition; monetary integration; non‐tariff barriers; regional trading arrangement; regionalism; rules of origin; trade diversion

Chapter.  12133 words.  Illustrated.

Subjects: International Economics

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