TY - BOOK ID - 84543257 TI - Regionalism or Multilateralism? A Political Economy Choice PY - 2008 SN - 1462382045 1452759189 1283513560 9786613826015 145191380X PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - International trade. KW - Regionalism. KW - Trade blocs. KW - Commercial treaties. KW - External trade KW - Foreign commerce KW - Foreign trade KW - Global commerce KW - Global trade KW - Trade, International KW - World trade KW - Commerce KW - International economic relations KW - Non-traded goods KW - Trade agreements (Commerce) KW - Competition, International KW - Foreign trade regulation KW - Treaties KW - Reciprocity (Commerce) KW - Regional economic blocs KW - Regional trading blocs KW - Trading blocs KW - International trade KW - Human geography KW - Nationalism KW - Interregionalism KW - Exports and Imports KW - Trade Policy KW - International Trade Organizations KW - International economics KW - Trade agreements KW - Regional trade KW - Trade liberalization KW - Multilateral trade KW - Trade policy KW - Commercial treaties KW - Commercial policy KW - Uruguay UR - https://www.unicat.be/uniCat?func=search&query=sysid:84543257 AB - This paper provides a political economy analysis of the incentives underpinning a country's decision to enter a regional trade agreement when a multilateral free trade agreement is available, and of how entering a regional trade agreement affects the incentives to pursue multilateral trade liberalization. Taking into account the influence exerted by organized interest groups in the formation of trade agreements, we derive a formal condition under which a regional trade agreement is preferred to a multilateral one. Furthermore, we show that a country's decision to enter a regional trade agreement unambiguously undermines the incentives towards multilateral trade liberalization. ER -