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AbstractFree trade agreements between countries at different ends of the development spectrum have become increasingly common over the past decade. The impact that this type of arrangement has on trade flows has been widely modelled; however, the extent to which it can be expected to affect economic vulnerability is an aspect that has largely been overlooked. Yet as the economic distance between negotiating partners widens, the likelihood that changes in trade flows will affect the economic structure of the less developed partner increase. This paper explores the components of two prominent highly asymmetric negotiations – the Dominican Republic – Central America Free Trade Agreement and the European Union – Caribbean Forum Economic Partnership Agreement – to assess the channels through which the resulting organisation of trade may impact the vulnerability profile of the developing country partners. We find that these FTAs have the potential to address economic vulnerability in the developing country partners in ways that would not be possible in their absence.

This study attempts to examine the relationship between Free Trade Agreements (FTAs) and Carbon Dioxide (CO2) emissions in Pakistan. Panel unit root, panel co-integration, and Fully Modified OLS (FMOLS) estimators were employed to investigate the existence of long-run relationship between Gross Domestic Product (GDP), Trade openness (TO) and energy consumption (EC) with CO2 emissions in Pakistan from 1980 to 2014. The results show that GDP per capita have a significant positive effect on CO2 emissions. This implies that an increase in GDP per capita increases CO2 emissions and show a scale effect. The results also indicate the existence of long run positive relationship of energy consumption on carbon emission and negative relationship with trade openness and FTA. This research is helpful for policy makers to eliminate the negative impact by adopting appropriate policy instruments and promote Pakistan's trade in the international market.

Cover -- Contents -- List of Tables, Figures, and Boxes -- Preface -- Abbreviations -- Introduction: The Menu for Choice -- Variety of Methods -- Impacts of What and Impacts on What -- Structure of the Book -- References (Introduction) -- Chapter 1 Theoretical Framework for Economic Analysis of Free Trade Agreements -- 1.1. Viner's Model and Extensions -- 1.1.1. Viner's Model -- 1.1.2. Extensions to Viner's Model -- 1.2. General Equilibrium Models -- 1.2.1. Meade-Lipsey and Wonnacott-Wonnacott Models -- 1.2.2. Lloyd-Maclaren Model -- 1.2.3. Kemp-Wan Theorem -- 1.3. Dynamic Effects of Free Trade Agreements -- 1.3.1. Economies of Scale and Variety -- 1.3.2. Impacts on Foreign Direct Investment -- 1.3.3. Structural Policy Change and Reform -- 1.3.4. Competitiveness and Long-Run Growth Effects -- 1.4. Theoretical Foundations for Computable General Equilibrium and Gravity Model -- 1.4.1. Foundations for Computable General Equilibrium Analysis -- 1.4.2. Foundations for the Gravity Model -- 1.5. Concluding Remarks -- References (Chapter 1) -- Chapter 2 Methods for Ex-Ante Economic Evaluation of Free Trade Agreements -- 2.1. Trade Indicators to Evaluate the Potential Economic Effects of a Free Trade Agreement -- 2.1.1. Indicators of Regional Trade Interdependence -- 2.1.2. Indicators of Comparative Advantage, Regional Orientation, Trade Complementarity, and Export Similarity -- 2.1.3. Strengths and Limitations of Trade Indicators -- 2.2. Estimating the Potential Economic Effects of a Free Trade Agreement in an Individual Market -- 2.2.1. The SMART Model -- 2.2.2. Example of Motorcycle Market in the Lao People's Democratic Republic -- 2.2.3. Strengths and Limitations of the SMART Model -- 2.3. Computable General Equilibrium Estimation of the Potential Economic Effects of a Free Trade Agreement -- 2.3.1. The GTAP Model.