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POL 4410: Week Five. Trade Treaties. Structure. Theories of Trade Treaties History of Global Trade Treaties Regional Trade Treaties. Trade Theories. Neoclassical Economic Theory Interest Group Theory Realist / Mercantilist Theory. AUTARKY. FREE TRADE. Cloth. Cloth. Soap. Soap.

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pol 4410 week five
POL 4410: Week Five
  • Trade Treaties
structure
Structure
  • Theories of Trade Treaties
  • History of Global Trade Treaties
  • Regional Trade Treaties
trade theories
Trade Theories
  • Neoclassical Economic Theory
  • Interest Group Theory
  • Realist / Mercantilist Theory
neoclassical theory

AUTARKY

FREE TRADE

Cloth

Cloth

Soap

Soap

Britain

Britain

16

24

0

4

Italy

Italy

0

3

2

8

TOTAL

TOTAL

24

19

8

6

Neoclassical Theory
  • Comparative Advantage vs. Absolute Advantage
interest groups
Interest Groups
  • Losers from trade may try to block free trade and to impose tariffs.
  • ‘Protection for sale’
  • Treaties as commitment devices
realism mercantilism
Realism / Mercantilism
  • States sign treaties for two reasons:(1) To bully other weaker states(2) Because treaties don’t matter
types of trade policy
Types of Trade Policy
  • Unliateral Policy
  • Bilateral Deals
  • Multilateral Institutions
trade treaties pre wwii
Trade Treaties pre-WWII
  • Cobden Chevalier in 1860
  • MFN
  • Reciprocal Trade Agreements Act in 1934
slide9
GATT
  • Founded in 1948 with 23 members
  • Based on reciprocity and MFN - many exceptions made
  • Series of rounds
slide10
WTO
  • Founded in 1995 with 76 members, now 149.
  • Has Dispute Settlement Body
  • Consensus and negotiations
  • EU / US trade disputes
european union
European Union
  • European Coal and Steel Community in 1951
  • European Economic Community in 1957
  • European Union in 1992
  • Tripartite structure: Commission, Council of Ministers, European Parliament
nafta and cafta
NAFTA and CAFTA
  • 1994 NAFTA founded
  • Chapter 11 and Chapter 19
  • CAFTA signed 2005
other regional treaties
Other regional treaties
  • Asia Pacific economic Cooperation group
  • Mercosur
  • Andean Pact
  • Australia-New Zealand
lomborg anderson
Lomborg: Anderson
  • Static Gains: inter / intra industry
  • Dynamic Gains: knowledge; faster growth from imported capital goods
  • Why protectionism?
  • What reduces protectionism? Info; tech; foreign openness; trade agreements
  • Costs: social and environmental?
anderson 2
Anderson (2)
  • 1) Free trade; (2) Doha + and APEC (MFN); (3) FTAs (non-MFN); (4) PTAs with ex-colonies.
  • Binding? ; MFN? ; Reciprocal?
  • Free trade = 2*(Doha) = 24 * (FTAA)
  • Trade diversion vs. trade augmentation
  • Bananas and trade diversion $1 / -$1 / -$13
anderson 3
Anderson (3)
  • Gross effects versus net effects
  • Economic costs of reducing tariffs and subsidies.
  • Private and social costs. Concentrated costs and diffuse benefits
  • Poverty, environment, climate change, conflict
pronk
Pronk
  • Positive effects of trade on other areas (poverty, health, environment) depend on ‘sustainability conditions’.
  • Trade policy and domestic policy interact
  • Gradualism vs. shock therapy. Sticky costs.
  • Is WTO actually slowing free trade? Two-track liberalization.
bergstein
Bergstein
  • Bicycle must keep moving
  • Big is beautiful
  • Bulding blocks, not stumbling blocs
  • Money is central
  • Leadership is essential
ruggie
Ruggie
  • What is ‘embedded liberalism?’
  • Power and purpose
  • Move from classical liberalism to neoliberalism
wallace
Wallace
  • What is Europeanization? Magnetic / Heineken analogies.
  • Importance of history and goeography
  • Neofunctionalism
  • Multi-level governance
  • Territorial, Functional, Affiliational Integration
  • Multiple modes of interaction
  • Impact on domestic politics
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