I just read 296 trade agreements

Kohl, Tristan (2013). I just read 296 trade agreements. UNU-CRIS Working Papers. UNU Institute on Comparative Regional Integration Studies.

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  • Sub-type Working paper
    Author Kohl, Tristan
    Title I just read 296 trade agreements
    Series Title UNU-CRIS Working Papers
    Volume/Issue No. 2013/9
    Publication Date 2013
    Place of Publication Bruges
    Publisher UNU Institute on Comparative Regional Integration Studies
    Pages 59
    Language En
    Abstract Until now, conventional gravity-equation studies of trade agreements and international trade have assumed all agreements to be equal. This is witnessed by the use of binary variables to account for the presence of such economic integration agreements (EIAs). Although convenient, this instrument fails to account for potential differences between EIAs. Identifying what drives these differences may be crucial to understanding why some EIAs are more effective in promoting trade than others. This paper opens the proverbial black box and takes stock of the provisions covered by almost all EIAs in the world economy to date. This approach provides a new means to quantify the het_erogeneity of trade agreements and to study their effects on international trade. The possibility of using EIAs' content to construct an index of trade regulation is explored, as well as an investigation of the determinants of comprehensive trade agreements. The paper also uncovers an important 'nding in the debate on whether EIAs threaten to undermine or may actually complement the WTO. I 'nd that virtually all EIAs build, to a large extent, on existing WTO policies. A minority of agreements contains pro_visions that are not currently part of the WTO's mandate. As such, an analysis of what is written in EIAs shows that these agreements are'being 'rmly rooted in WTO policy'complements, not threats, to the multilateral trade system. However, opening this black box also reveals that not all provisions are good for trade. In fact, some provi_sions are found to actually decrease trade, which stresses the importance of addressing both the purpose and context of individual provisions and agreements in EIA-based research.
    Keyword Gravity model
    International trade
    Trade agreements
    Copyright Holder UNU Institute on Comparative Regional Integration Studies
    Copyright Year 2013
    Copyright type All rights reserved
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    Created: Wed, 18 Dec 2013, 15:18:08 JST