Using a comparative-static general equilibrium model and in the context of the western hemisphere, this paper compares the economic effects of a hub-and-spokes (HAS) type of bilateral trade configuration (with Chile being the hub) with those of a more comprehensive regional FTA (namely, the...

In a sequential Computable General Equilibrium analysis, we investigate the likely effects of the EU-South Africa Free Trade agreement (FTA), with a special emphasis on South Africa's growth prospects. We find that the FTA increases South African output and welfare. We note, however, that the...

The paper studies the effects of regional integration on the incentives of members and non-members to undertake multilateral trade liberalization. Using a three-country political economy model with imperfect competition, it shows how regionalism can undermine support for multilateralism....