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International Economics
[chapter]
1984
A Selected Bibliography of Significant Works About Adam Smith
The number of preferential trade agreements has greatly increased over the past two decades, yet most existing bilateral arrangements take the form of free trade areas, and less than ten percent can be considered to be fully fledged customs unions. This paper develops a political economy model of trade policy under imperfect competition to provide a positive explanation for the prevalence of free trade areas. In a threecountry setting, a representative from each prospective member is elected to
doi:10.9783/9781512803792-015
fatcat:hcdt3b4vhjbctbn2aq7ifje3ty