Is Regionalism Simply a Diversion? Evidence from the Evolution of the EC and EFTA

Author/Editor:

Tamim Bayoumi ; Barry J. Eichengreen

Publication Date:

November 1, 1995

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

This paper considers the impact on trade of preferential arrangements in Europe since the 1950s. Using a first difference version of the gravity model, we find that the EEC and EFTA altered the pattern of international trade. We also find evidence of trade diversion in several cases, notably that of the EEC in the 1960s.

Series:

Working Paper No. 95/109

Subject:

Notes:

Revised version of paper presented at the Sixth Annual East Asian Seminar on Economics, Seoul, Korea, June 15-17, 1995.

English

Publication Date:

November 1, 1995

ISBN/ISSN:

9781451853155/1018-5941

Stock No:

WPIEA1091995

Format:

Paper

Pages:

31

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