Economic Integration and the Welfare of Those Who Are Left Behind: An Incentive-Theoretic Approach

Junichi Goto, Koichi Hamada

研究成果: Article査読

6 被引用数 (Scopus)

抄録

This paper analyzes the impact of regional integration on outside countries as well as member countries, using a simple model with product differentiation and increasing returns to scale. Major findings include: (i) economic integration surely benefits the member countries but definitely worsens the welfare of the rest of the world even if the integrating countries do not raise the external tariff rates (i.e., Article XXIV of the GATT is not enough to keep the third countries from incurring a loss); and (ii) incentives emerge for the outside countries to form a countervailing free trade area to compensate for the loss of welfare due to the formation of the original union. The results shed light on the recent development of regionalism, such as EU, NAFTA, EAEC, and APEC.J. Japan. Int. Econ.March 1998,12(1), pp. 25-48. Research Institute for Economics and Business Administration, Kobe University, 2-1 Rokkodai-Cho, Nada-Ku, Kobe 657, Japan and Economic Growth Center, Yale University, P.O. Box 208 269, New Haven, Connecticut 06520.Copyright 1998 Academic Press. Journal of Economic LiteratureClassification Number F15.

本文言語English
ページ(範囲)25-48
ページ数24
ジャーナルJournal of The Japanese and International Economies
12
1
DOI
出版ステータスPublished - 1998 3月
外部発表はい

ASJC Scopus subject areas

  • 財務
  • 経済学、計量経済学
  • 政治学と国際関係論

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