{
  "title": "Regionalism or Multilateralism? A Political Economy Choice",
  "publication": "IMF Working Papers, March 1, 2008",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/31/regionalism-or-multilateralism-a-political-economy-choice-21821",
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  "summary": "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 liberaliz",
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      "content": "- Author: Giorgia Albertin\n- Date: March 1, 2008\n- Format: IMF Working Papers\n- Abstract: 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."
    },
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      "heading": "Analytical framework",
      "content": "- The analysis explicitly incorporates the influence exerted by organized interest groups in the formation of trade agreements.\n- The paper derives a formal condition under which a regional trade agreement is preferred to a multilateral one."
    },
    {
      "heading": "Key findings",
      "content": "- A formal condition is derived (within the paper's model) that characterizes when a country prefers a regional trade agreement over a multilateral free trade agreement.\n- A country's decision to enter a regional trade agreement unambiguously undermines the incentives towards multilateral trade liberalization."
    },
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      "heading": "Policy implications and interpretation",
      "content": "- The role of organized interest groups is central to understanding trade-agreement choices and the interaction between regionalism and multilateralism.\n- Policymakers should recognize that pursuing regional agreements may reduce domestic incentives to support broader multilateral liberalization.\n\n---\n\n Content in this bundle\n\n- Regionalism or Multilateralism?  Giorgia Albertin; IMF Working Paper 08/65; March 1, 2008\n  - Regionalism or Multilateralism?  Giorgia Albertin; IMF Working Paper 08/65; March 1, 2008 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Regionalism or Multilateralism?  Giorgia Albertin; IMF Working Paper 08/65; March 1, 2008 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/regionalism-or-multilateralism-a-political-economy-choice-21821"
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    "Authors: Giorgia Albertin",
    "Published: March 1, 2008",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451869279.001",
    "Author: Giorgia Albertin",
    "Date: March 1, 2008",
    "Format: IMF Working Papers",
    "Abstract: 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.",
    "The analysis explicitly incorporates the influence exerted by organized interest groups in the formation of trade agreements.",
    "The paper derives a formal condition under which a regional trade agreement is preferred to a multilateral one.",
    "A formal condition is derived (within the paper's model) that characterizes when a country prefers a regional trade agreement over a multilateral free trade agreement.",
    "A country's decision to enter a regional trade agreement unambiguously undermines the incentives towards multilateral trade liberalization.",
    "The role of organized interest groups is central to understanding trade-agreement choices and the interaction between regionalism and multilateralism.",
    "Policymakers should recognize that pursuing regional agreements may reduce domestic incentives to support broader multilateral liberalization.",
    "**Regionalism or Multilateralism?  Giorgia Albertin; IMF Working Paper 08/65; March 1, 2008**"
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