Ryoichi Nomura, Takao Ohkawa, M. Okamura, M. Tawada
{"title":"Does a Bilateral FTA Pave the Way for Multilateral Free Trade?","authors":"Ryoichi Nomura, Takao Ohkawa, M. Okamura, M. Tawada","doi":"10.1111/roie.12028","DOIUrl":null,"url":null,"abstract":"We determine whether a bilateral free trade agreement (FTA) acts as a building block for multilateral free trade (MFT) in a three-country model with asymmetric domestic markets. Our main conclusions are as follows: (i) A bilateral FTA between two large countries can act as a building block for MFT; (ii) A bilateral FTA between two small countries acts as a stumbling block for MFT; (iii) This FTA can be Pareto improving when a multilateral trade agreement is not feasible.","PeriodicalId":351939,"journal":{"name":"Wiley-Blackwell: Review of International Economics","volume":"30 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2013-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"12","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Wiley-Blackwell: Review of International Economics","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1111/roie.12028","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 12
Abstract
We determine whether a bilateral free trade agreement (FTA) acts as a building block for multilateral free trade (MFT) in a three-country model with asymmetric domestic markets. Our main conclusions are as follows: (i) A bilateral FTA between two large countries can act as a building block for MFT; (ii) A bilateral FTA between two small countries acts as a stumbling block for MFT; (iii) This FTA can be Pareto improving when a multilateral trade agreement is not feasible.
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