Deardorff, Alan V. - Research Seminar in International Economics, University … - 2010
reciprocal tariff cuts on each otherÕs exports in a regional trade agreement (RTA) and compares the effects with unilateral most … countryÕs trade. The welfare effects of a countryÕs own tariff cut on imports are also compared to the effects on its welfare of …. Implications of the analysis are that, if multilateral trade liberalization is unlikely, then small countries should seek to form …