Regional integration and the prices of imports : an empirical investigation (English)

The authors explore the effects on the terms of trade of regional economic integration. They show why it is an appropriate measure of the welfare effects of such integration, comparing it with the many ex post studies that base their conclusions on changes in the import shares of member and nonmember countries. They demonstrate, by using a simple strategic model, how member countries might gain in their terms of trade, and nonmembers lose, through...
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Citation

Winters,L. Alan; Chang,Won.

Regional integration and the prices of imports : an empirical investigation (English). Policy, Research working paper ; no. WPS 1782 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/192241468781543196

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