Abstract
The chief debate surrounding free trade areas and regional trade blocs which has dominated the general literature on the subject is that of trade creation versus trade diversion. Regional blocs can lead to trade creation, partly by increasing trade within the bloc and partly by increasing overall incomes and productivity within the bloc and hence leading to additional demand for imports, including imports from countries outside the bloc. They can also lead to trade diversion, partly by reducing imports by countries within the bloc from countries outside the bloc, and partly by diverting the resources of countries within the bloc away from exports to countries outside.
Fellow, The Institute of Development Studies, and Professor Emeritus at the University of Sussex, Brighton, England.
Research assistance from Nicholas Georgiadis is gratefully acknowledged.
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References
Financial Times, 5 June, 1992.
Keesing, D. and Singer, A. (1992), Why Official Export Promotion Fails, Finance and Development, March.
Office of the Press Secretary, The White House, 14 September 1990: “Enterprise for the Americas Initiative” Act of 1990, HR 5855.
Singer, H. W. (1989), The Relationship between Debt Pressures, Adjustment Policies and Deterioration of Terms of Trade for Developing Countries (with special reference to Latin America), Institute of Social Studies Working Paper No. 59, July, The Hague.
Sarkar, P. and Singer, H. W. (1991), Manufactured Exports of Developing Countries and their Terms of Trade Since 1965, World Development, Vol. 19, No. 4.
Yannopoulos, G. N. (1986), Trade Policy Options in the Design of Development Strategies, University of Reading Discussion Paper in Economics, Series A, No 181, November.
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© 1996 Centre for International Cooperation and Development
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Singer, H.W. (1996). Is a Genuine Partnership Possible in a Western Hemisphere Free Trade Area?. In: Svetličič, M., Singer, H.W. (eds) The World Economy. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-24695-3_9
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DOI: https://doi.org/10.1007/978-1-349-24695-3_9
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