Size, sunk costs, and Judge Bowker's objection to free trade

Article Abstract:

Small countries under trade liberalization conditions will reap less benefits from anticipated bargaining than autarchy or a fully anticipated trade war if irreversible investments are required by production. Small countries will lose their bargaining power since they will become dependent on their trade relations with other countries as investors put more money into the export sector in anticipation of a liberal trade environment. On the balance, anticipated negotiations will provide more benefits to a small nation if there is enough substitutability between products and differences between economies.

Administration of General Economic Programs, Economics, Research and Development in the Social Sciences and Humanities, Trade Negotiations

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Trade reform, policy uncertainty, and the current account: a non-expected-utility approach

Article Abstract:

The current account may suffer as a result of a decrease in trade barriers, and private savings may also decline. Trade liberalization causes imports to increase and the current account to deteriorate. A model illustrates that private savings decrease when a policy reversal occurs. Tariffs that have been lowered temporarily cause the relative price of current goods to decrease in relation to the price of future goods, thereby leading to a decrease in savings. This suggests that policymakers should intervene so that savings will increase during the early stages of trade reform.

Balance of payments

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Trade conflict and resolution methodologies

Article Abstract:

The international dynamic effects of the removal of trade barriers on income and trade in relation to the Uruguay Round negotiations were studied. The results indicated that free trade agreements could lead to international gains in income, but these gains could be eliminated if trading blocs became hostile toward one another. Developing countries would suffer the most from this situation.

Nontariff trade barriers

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