Kiel Working Papers, Kiel Institute for World Economics
No 1407:
Why a Marketplace Must Not Discriminate: The Case against a US-EU free Trade Agreement
Rolf J. Langhammer
Abstract: The paper discusses the pros and cons of a Transatlantic
free trade area (TAFTA) against the concept of an informal
trade-facilitating marketplace between Europe and the US. It finds
considerably more cons expecially since TAFTA would be expected to have
ever more discriminatory effects to the detriment of dynamic non-member
economies mainly in Asia but also in food-exporting regions.
Efficiency-enhancing effects are argued to be achievable under a
marketplace concept which does not separate insiders from outsiders. It is
also shown that in foreign direct investment (FDI) and FDI-related service
trade TAFTA seems redundant as in recent years bilateral capital and trade
flows have proven to be buoyant without preferential treatment
Keywords: Regional trading arrangement, multilateral trade policy, free trade area; (follow links to similar papers)
JEL-Codes: F13,; F15; (follow links to similar papers)
20 pages, March 2008
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