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...

This volume addresses important issues in economic theory and international trade with contributions from internationally renowned researchers - including some of Murray C. Kemp's many colleagues and former students. Economic Theory and International Trade begins with an examination of classical...

Frontmatter -- Preface -- Contents -- I. Introduction -- II. The Statistical Data -- III. The Method of Estimation -- IV. Estimates of the Price and Income Elasticities of Import Demand -- V. The Direction of Future Research -- Appendix I. Statistical Series -- Appendix II. Alternative...