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Despite the successes achieved in liberalizing trade by multilateral trade negotiations sponsored by the World Trade Organization (WTO), numerous countries have separately negotiated preferential trade treaties with one another. Representing a significant departure from the WTO's central principle of non-discrimination among member countries, preferential trade blocs are the subject of an intense academic and policy debate. The first section of this 2005 book presents a rudimentary and intuitive introduction to the economics of preferential trade agreements. The following chapters present the...

Despite the successes achieved in liberalizing trade by multilateral trade negotiations sponsored by the World Trade Organization (WTO), numerous countries have separately negotiated preferential trade treaties with one another. Representing a significant departure from the WTO's central principle of non-discrimination among member countries, preferential trade blocs are the subject of an intense academic and policy debate. The first section of this 2005 book presents a rudimentary and intuitive introduction to the economics of preferential trade agreements. The following chapters present the...