A Review of the Theoretical Developments and Challenges in Regional Trade Agreements

• 영문명: A Review of the Theoretical Developments and Challenges in Regional Trade Agreements
• 발행기관: The International Academy of Global Business and Trade
• 저자명: Sun-Tae Cheong
• 간행물 정보: 『Journal of Global Business and Trade』Vol. 19, No. 6, 129~146쪽, 전체 18쪽
• 주제분류: 사회과학 > 무역학
• 파일형태: PDF
• 발행일자: 2023.12.31

영문 초록

Purpose - The core of the debate on RTAs is the economic welfare effect resulting from the provision of preferential treatment among member countries and discrimination against non-member countries, and the resulting implications for the multilateral trading system. This study aims to answer these questions by reviewing theoretical and empirical research on RTAs from an economic perspective. It also presents theoretical challenges that may reflect changes in RTAs. Design/Methodology/Approach - This study examines the development of RTAs from an economic perspective, covering both traditional and new approaches. It does so by reviewing the literature on the theory and empirical evidence of RTAs. Findings - Concerns that RTAs will cause trade diversion and have a negative impact on the multilateral trading system are greatly exaggerated in our study. We also find that deep integration is less discriminatory than RTAs, resulting in more favorable effects on economic welfare and the multilateral trading system. Research Implications - Beyond the theoretical for and against RTAs, given that RTAs exist as a realistic entity, a more practical approach is to explore institutional ways in which RTAs and multilateral trading systems coexist. In other words, in a situation where the WTO system is facing a crisis, a realistic answer must be found as RTAs may be the only means to supplement the WTO system.

목차

Ⅰ. Introduction

Ⅱ. Theoretical Developments in Regional Trade Agreements

Ⅲ. New Approaches and Theoretical Challenges to RTAs

Ⅳ. Conclusion

References

키워드

deep integration GVC multilateral trade system RTAs