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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

Chapter:
(p.176) 8 The Mainstream from Viner to the JCM Proposition
Source:
The Economics of Regional Trading Arrangements
Author(s):

Richard Pomfret (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/0199248877.003.0008

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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