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The Economics of Regional Trading Arrangements$
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Richard Pomfret

Print publication date: 2001

Print ISBN-13: 9780199248872

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0199248877.001.0001

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The Mainstream from Viner to the JCM Proposition

The Mainstream from Viner to the JCM Proposition

(p.176) 8 The Mainstream from Viner to the JCM Proposition
The Economics of Regional Trading Arrangements

Richard Pomfret (Contributor Webpage)

Oxford University Press

Deals with mainstream customs union theory, starting with the Vinerian concepts of trade creation and trade diversion (Sects. 1–3). Section 4 analyses differences between customs unions and free trade areas, and the phenomenon of trade deflection. Section 5 provides a general equilibrium framework, pioneered by Vanek and Kemp.

Keywords:   customs union, free trade area, general equilibrium, Murray C. Kemp, trade creation, trade deflection, trade diversion, Jaroslav Vanek, Jacob Viner

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