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|Title:||Regional trade liberalisation: A theoretical review of dynamic time-path and stability issues|
|Citation:||Asian-Pacific Economic Literature, 2011; 25(1):1-14|
|School/Discipline:||School of Economics|
|Abstract:||In recent years, the use of regional trade liberalisation arrangements(RTAs) has proliferated, while multilateral negotiations under the WTO have proceeded slowly, resulting in a debate over the roles of regional and multilateral liberalisation. This paper reviews the key theoretical contributions in the debate over RTAs, especially the recently developed themes addressing dynamic time-path and stability issues. However, due to the variety of motivations for RTA member countries to expand trading blocs and for non-members to seek entry, research has found few general conditions under which the formation of RTAs can become the ‘stepping stone’ or ‘stumbling block’ towards global free trade.|
|Rights:||© 2011 The Author. Journal compilation © 2011 Crawford School of Economics and Government, The Australian National University and Blackwell Publishing Asia Pty Ltd.|
|Appears in Collections:||Economics publications|
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