The Theory of Preferential Trade Agreements: Historical Evolution and Current Trends

Authors

Jagdish N. Bhagwati, Columbia Law SchoolFollow
Arvind Panagariya, Columbia UniversityFollow

Document Type

Article

Publication Date

1996

Abstract

The theory of preferential trade agreements (Pf A's), or what might be described in policy terms as the General Agreement on Tariffs and Trade (GATT) Article XXIV sanctioned freetrade areas (FTA's) and Customs Unions (CU's), has undergone two phases of evolution, in two very different modes, largely reflecting the contrasting policy concerns of the time. In this paper, we trace this evolution, offering both a historical context and an intellectual coherence to diverse analytical approaches.

Disciplines

International Trade Law | Law | Law and Economics

Comments

Copyright © 1996 by the American Economic Association.

Recommended Citation

Jagdish N. Bhagwati & Arvind Panagariya, The Theory of Preferential Trade Agreements: Historical Evolution and Current Trends, 86(2) Am. Econ. Rev. 82 (1996).
Available at: https://scholarship.law.columbia.edu/faculty_scholarship/3573