Preferential Trade Agreements and Their Role in World Trade

• Tác giả: Denis Medvedev
• Ngôn ngữ: eng
• Ký hiệu phân loại: 351.82 Public administration
• Thông tin xuất bản: 2012
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 300612
• Chủ đề: 1. Economic Integration F150; 2. International Linkages to Development; 3. International Trade Organizations F130; 4. Role of International Organizations O190; 5. Trade Policy

Tóm tắt

 This paper investigates the effects of preferential trade agreements (PTAs) on bilateral trade using a comprehensive data base of PTAs in force and a detailed matrix of world trade. Total trade between PTA partners is a poor proxy for preferential trade (trade in tariff lines where preferences are likely to matter): while the former was one-third of global trade in 2000-2002, the latter was between one-sixth and one-tenth. Gravity model estimates indicate that using total trade to assess the impacts of PTAs leads to a significant downward bias in the PTA coefficient: the semi-elasticity of trade with respect to PTA membership rises from 87% for total trade to 119% for preferential trade. Product exclusions and long phase-in periods significantly limit preferential trade
  the marginal impact of South-South agreements on preferential trade is much higher than North-South PTAs, while the effect of North-North agreements is insignificantly different from zero.