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Trade liberalization is arguably a major issue in the conduct of commercial policy. As a component of it, the relationship between universal, multilateral trade liberalization and the conclusion of preferential trade agreements - that is, a process of liberalization which discriminates between trading partners - has been a focus of analysis and debate. This book is designed to enhance understanding of the salient elements of these issues. The book searches for answers to significant questions that have not been raised before, and elaborates those discussed earlier in the literature but not yet settled. Some parts of the book are purely analytical, while others focus on general principles and comprehension of concrete instances and developments. The book formulates a variety of new methods, including the construction of new instruments of measurement, to enable both ex-ante predictions and ex-post assessments of the impact of liberalization and trade preferences. The revised edition incorporates the outcome of two important studies, exploring the impact of liberalization on trade structure and the pattern of regional trade relationships. Sample Chapter(s). Chapter 1: Introduction (55 KB). Contents: Goods vs Factors: When Borders Open, Who Moves?; The Pattern of Removal of Trade Barriers; Preferential Trade Agreements vs Free Trade; Partners to a PTA: Implications of Varying Size; Small Economies: Trade Liberalization, Trade Preferences, and Growth; Preferential Agreements and Past Trade Patterns; The Impact of Liberalization on Trade Structure; Ex-Ante Assessment of a Preferential Agreement: Methods; Ex-Ante Assessment of a Preferential Agreement: An Application to Latin America; Assessing the Bias in Trade Expansion Following a Preferential Agreement; Proximity, Partnership to Trade Preferences, and the Impact of Liberalization; Proximity: The

Asymmetric capacities across nations are a persistent reality in the global economy, but little is known about how people respond to these disparities. We provide the first experimental evidence on the phenomenon of asymmetrical fairness in trade preferences. We find that trade opinion divides over the relative economic capacity of the trade partner: Citizens treat smaller and less developed economies very differently in trade, even when the asymmetric treatment is disadvantageous to their own country. Across different experimental tests on a national sample in China, we find strong effects on trade opinion that are statistically and substantively significant. We also show that asymmetrical fairness is a phenomenon that applies in both positive (gains) and negative (losses) domains. Thus, while International Relations scholarship often assumes self-centered actors seeking benefits for themselves or their national in-groups, our results show that prosocial considerations over the limited capacities of the weak can influence the preferences of the strong—a phenomenon that refines our understanding of international power asymmetry and its consequences.

Since at least the 1960s, the European Union (EU) has offered various kinds of non-reciprocal trade preferences for developing countries. Originally, these trade preferences had at least two policy goals: (i) to increase export volumes for developing countries and thereby boost their export earnings, and (ii) to facilitate export diversification. While extensive research has confirmed that the first of these goals is typically met, the second goal seems to have been largely forgotten by researchers as well as in policy circles. The aim of this paper is therefore to analyse the impact of the EU's non-reciprocal trade preferences for developing countries on export diversification. Our estimation results suggest that some trade preference programs, such as the Generalised Scheme of Preferences (GSP), are associated with increasing ranges of export products. By contrast, preferences offered to Mediterranean countries typically have no significant effects, and African, Caribbean and Pacific (ACP) preferences actually have negative effects toward the end of our time period, suggesting that ACP countries may respond to preferences by specializing into fewer goods.

Since at least the 1960s, the European Union (EU) has offered various kinds of non-reciprocal trade preferences for developing countries. Originally, these trade preferences had at least two policy goals: (i) to increase export volumes for developing countries and thereby boost their export earnings, and (ii) to facilitate export diversification. While extensive research has confirmed that the first of these goals is typically met, the second goal seems to have been largely forgotten by researchers as well as in policy circles. The aim of this paper is therefore to analyse the impact of the EU's non-reciprocal trade preferences for developing countries on export diversification. Our estimation results suggest that some trade preference programs, such as the Generalised Scheme of Preferences (GSP), are associated with increasing ranges of export products. By contrast, preferences offered to Mediterranean countries typically have no significant effects, and African, Caribbean and Pacific (ACP) preferences actually have negative effects toward the end of our time period, suggesting that ACP countries may respond to preferences by specializing into fewer goods.