Discussion Paper Details

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Title: Regionalism and the Rest of the World: The Irrelevance of the Kemp-Wan Theorem

Author(s): L. Alan Winters

Publication Date: January 1996

Keyword(s): Kemp-Wan Theorem, Regional Integration and Terms of Trade

Programme Area(s): International Trade and Regional Economics

Abstract: Many commentators purport to use the Kemp-Wan Theorem to discuss the effects of regional integration schemes on non-member countries, and to operationalize the theorem in terms of the share of member countries' imports from non-members. This paper shows that Kemp and Wan (1976) say nothing about changes in non-member welfare and that the latter is more closely related to non-members' imports than to their shares of members' markets. The paper suggests that a new approach to this issue is required.

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Bibliographic Reference

Winters, L. 1996. 'Regionalism and the Rest of the World: The Irrelevance of the Kemp-Wan Theorem'. London, Centre for Economic Policy Research.