Economics, Econometrics and Finance
4 years ago

Preferential Trade Agreements Boost Global Trade and Economic Growth.

World Bank policy research working paper
Preferential Trade Agreements And Their Role In World Trade
Denis Medvedev

Paper Summary

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Preferential trade agreements (PTAs) impact world trade by increasing trade between partner countries. Total trade between PTA partners is not the same as preferential trade, which is smaller. Exclusions and long phase-in periods limit preferential trade, but removing them could double trade in certain tariff lines. The effects of PTAs on trade vary by agreement type and partner incomes.