Dealing with the Proliferation of Bilateral Free Trade Agreements

Jayant Menon

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Global trade and economics International Relations in Latin America World Trade Organization Law

Abstract

Abstract Bilateral free trade agreements (BTAs) have been proliferating. The outcome of this proliferation of often overlapping BTAs and plurilateral free trade agreements (PTAs) is described as the spaghetti bowl effect or, in the Asian region, the noodle bowl effect. This is costly, and welfare reducing. How do we remedy the situation? In this paper, we consider the various options proposed in dealing with the spaghetti bowl, and assess their ability to do so. A general limitation of these proposals is their tendency to group all kinds of BTAs together, treating them as a homogeneous group. Thus, the proposals ignore underlying differences in motivation in forming BTAs. To overcome this, we develop a taxonomy for classifying BTAs by motivation before considering the effectiveness of the different remedies proposed. We find that each proposal has its pros and cons, and can cater for different types of BTAs. Thus, a combination of the various proposals may be warranted, even in the event of an expeditious and bona fide conclusion to the Doha Round.

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References

1993A Domino Theory of Regionalism 2006Multilateralising Regionalism: Spaghetti Bowls as Building Blocs on the Path to Global Free Trade 2008MANAGING THE NOODLE BOWL: THE FRAGILITY OF EAST ASIAN REGIONALISM 2008Does Regionalism Affect Trade Liberalization Toward Non-Members?2007Is Regionalism an Increasing Feature of the World Economy?2008The Spoke Trap: Hub‐and‐Spoke Bilateralism in East Asia 2005Preferential Trade Agreements in the Asia-Pacific Region

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