Discussion Paper Details

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Title: Preferential Trade Liberalization in the North Atlantic

Author(s): Richard Baldwin and Joseph Francois

Publication Date: March 1997

Keyword(s): Free Trade Agreements, Preferential Trade, Regionalism, TAFTA and Transatlantic Trade

Programme Area(s): International Trade and Regional Economics

Abstract: This study provides a quantitative assessment of the implications of preferential trade liberalization by the North Atlantic economies. Emphasis is placed on the pattern of production and trade in North America and Western Europe, the pattern of import protection, and the likely trade and income effects of trade liberalization. The potential benefits of preferential trade liberalization are also compared with the potential benefits of post-Uruguay Round most-favoured nation-based reductions in trade barriers. The numerical assessment highlights the impact both on the North Atlantic economies themselves, and on their important regional trading partners.

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Bibliographic Reference

Baldwin, R and Francois, J. 1997. 'Preferential Trade Liberalization in the North Atlantic'. London, Centre for Economic Policy Research.