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Is the GATT/WTO's Article XXIV bad?

Mrázová, M, Vines, D and Zissimos, B (2013) Is the GATT/WTO's Article XXIV bad? Journal of International Economics, 89 (1). pp. 216-232.

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The GATT/WTO Article XXIV prevents a customs union (CU) from raising its common external tariff. In this paper, we compare CU formation with and without this Article XXIV constraint. We show, in a multi-country oligopoly model, that for a given CU structure, Article XXIV improves world welfare by lowering trade barriers. However, we also show that Article XXIV has a composition effect on CU formation: it affects the endogenous choice of CUs. By encouraging more symmetric CUs, Article XXIV causes more trade to be subject to trade barriers. As a result, Article XXIV may be 'bad' for world welfare. © 2012 Elsevier B.V.

Item Type: Article
Divisions : Surrey research (other units)
Authors : Mrázová, M, Vines, D and Zissimos, B
Date : 1 January 2013
DOI : 10.1016/j.jinteco.2012.07.007
Depositing User : Symplectic Elements
Date Deposited : 16 May 2017 15:18
Last Modified : 24 Jan 2020 14:20

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