Regional integration agreements (RIAs) are examples of second best and have an ambiguous impact on welfare, contend the authors. They build a model in which RIAs unambiguously raise welfare by correcting for externalities. It assumes that trade between neighboring countries increases trust between them and reduces the likelihood of conflict. The optimum intervention in that case is a subsidy on imports from the neighbor. The authors show that an equivalent...
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INFORMATION
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1997/08/31
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Document de travail de recherche sur les politiques
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WPS1801
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1
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1
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2010/07/01
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Regional integration as diplomacy
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deep integration
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