Economics, Econometrics and Finance
4 years ago

Preferential trade agreements in Europe reshaped international trade patterns.

SSRN Electronic Journal
Is Regionalism Simply a Diversion?: Evidence from the Evolution of the EC and Efta
Tamim Bayoumi, Barry Eichengreen

Paper Summary

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The paper looks at how trade in Europe changed due to special agreements since the 1950s. By using a special model, the researchers found that the EEC and EFTA affected international trade patterns. They also discovered that trade was redirected in some cases, like with the EEC in the 1960s.