Economic Integration and Governance

• 영문명: Economic Integration and Governance: The Role of Preferential Trade Agreements
• 발행기관: 세종대학교 경제통합연구소
• 저자명: Beth V. Yarbrough Robert M. Yarbrough
• 간행물 정보: 『Journal of Economic Integration』제5권 제2호, 1~20쪽, 전체 20쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 1990.09.30

영문 초록

Traditional economic analyses implicitly assume that costs are technologically determined and thus the same regardless of the form of economic organization. In such a world, preferential trade agreements (PTAs) are a second-best policy. The theory presented here suggests that PTAs arise when international trade involves large and recurrent transaction-specific or non-salvageable investments that are subject to opportunism, particularly in the form of government policies. Organizational form then becomes a major determinant of costs; and a preferential trade agreement, by providing an organizational structure that can reduce opportunistic behavior, may produce benefits beyond those typically recognized.