There is no generally accepted definition of internationalization or globalization. In the present essay we offer three alternative definitions, in terms of (ii) an enlargement of the set of trading countries, (ii) an enlargement of the set of traded commodities and (iii) the international...

Purpose – The chapter examines whether the well-known Kemp–Wan proposition about customs unions is valid for free trade associations (FTAs). Methodology/approach – The chapter employs the assumption of perfect competition but with considerable generality. Findings – It is shown that the...