The Regionalism Debate: An Overview

Panagariya, Arvind

doi:10.1111/1467-9701.00214

Cited by 132 publications

(26 citation statements)

References 33 publications

(31 reference statements)

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“…Krueger (1999) and Lawrence (1996) have argued that the net benefits are greatest when factor endowments, including both physical and human factor endowments, are dissimilar because this implies that the member countries will be natural trading partners. Bhagwati and Panagariya (1996), Krueger (1999) and Panagariya (1999) point out that the fact that countries being neighbours does not necessarily mean that they are natural trading partners.…”

Section: Benefits and Costs Of An Ldc Joining A Ptamentioning

confidence: 99%

Should Bangladesh Join a Regional Free Trade Area?

Warr

2005

South Asia Economic Journal

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Suppose a regional preferential trading agreement (PTA) is to be formed and a particular country is invited to join. Should it do so? This question arises for Bangladesh in relation to a proposed PTA based upon the BIMST-EC country grouping of Bangladesh, India, Myanmar, Sri Lanka and Thailand. This paper examines the case for Bangladesh joining such a PTA. It is concluded that the net gains from doing so would be very small. There are two reinforcing aspects to this point. The first is the relatively small levels of intra-regional trade between Bangladesh and the other BIMST-EC countries. Although these trade volumes would almost certainly increase under a PTA, they may not do so sufficiently to make the benefits economically significant. The second aspect is that the pattern of trade between Bangladesh and the other BIMST-EC countries suggests that they are not natural trading partners. The trade-creating effects that generate net benefits may be especially small. There may be other strong reasons for forming a PTA among these countries, resting mainly on political considerations, but significant trade-related gains should not be expected.

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Section: Benefits and Costs Of An Ldc Joining A Ptamentioning

confidence: 99%

Should Bangladesh Join a Regional Free Trade Area?

Warr

2005

South Asia Economic Journal

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“…The effect of regionalism on multilateral negotiations has been examined many times, including detailed examinations by the OECD (1995) and the WTO (1995) itself. (For a recent review, see Panagariya, 1999.) The answer commonly given is that it does not.…”

Section: The Effects Of New Bilateralismmentioning

confidence: 99%

New Bilateralism in the Asia–Pacific

Lloyd

2002

World Economy

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This paper reviews recent changes in the geographic pattern of regional trading agreements (RTAs), focusing on examples from the Asia-Pacific area. The general pattern is one of new bilateral agreements combined with a trend towards continentalism. The new trend towards bilateralism can be explained largely by a fear of countries being excluded from their major markets as other countries secure preferential and superior access to these markets. This pattern is creating many intersections between RTAs with consequential multi-tiered preferences and multiple systems of trade rules. Viewed dynamically, however, this pattern may have positive effects on world trade. It mitigates the effects of large continental RTAs and may lead to coalescence or enlargement of RTAs. The paper reviews models which ask the important question as to whether this process will progress all the way to free trade for the world economy. Copyright Blackwell Publishers Ltd 2002.

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“…The general conclusion is that the impacts depend upon whether the specific PTA/RTA is 'net trade-creating' in which case it is a 'building block' or 'net trade-diverting' that makes it a 'stumbling block' for multilateral trade liberalization (Bhagwati & Panagariya, 1996;Panagariya, 1998;Robinson & Thierfelder, 1999). An excluded country could face adverse impacts if its exports to a particular member country in a PTA get displaced by exports from other members of the PTA because of the preferences that PTA members enjoy.…”

Section: Introductionmentioning

confidence: 99%

Mega External Preferential Trade Agreements and Their Impacts on Indian Economy

Ganesh-Kumar

Chatterjee

2016

Foreign Trade Review

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This study examines the impacts on India of three mega external preferential trading agreements (PTAs) from which the country is excluded using the Global Trade Analysis Project (GTAP) model combined with POVCAL poverty analysis tool. The simulation results show that each of these PTAs cause considerable trade diversion. However, the impacts on India's trade flows, domestic output, returns to factors, aggregate welfare, inequality and poverty levels are rather small. In contrast, multilateral trade liberalization has significantly large and favourable impacts on all these variables. In particular, welfare improves by 1.7 per cent of GDP, inequality falls by over half percentage point and poverty head count lowers by 12.3 per cent over base levels under a multilateral free trade scenario. These results suggest that the country should continue with its efforts for achieving a multilateral trade agreement. At the same time, the country should hedge against the possibility that a global trade agreement does not materialize. One way to protect the country's interest is to aggressively pursue preferential trading arrangements in parallel with key members of these three mega PTAs. This is likely to ensure that the country does not lose market share due to preference erosion. JEL: D58, F13, I31, O24

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The Regionalism Debate: An Overview

Cited by 132 publications

References 33 publications

Should Bangladesh Join a Regional Free Trade Area?

Should Bangladesh Join a Regional Free Trade Area?

New Bilateralism in the Asia–Pacific

Mega External Preferential Trade Agreements and Their Impacts on Indian Economy

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