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Regionalism in Trade: An Overview of the Last Half-Century

  • Michael Michaely EMAIL logo
Published/Copyright: July 15, 2014
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Abstract

The paper starts with a discussion of potential sources of regionalism in trade; and what, on this basis, might have been expected to be the performance of regionalism. In its main part, this is an empirical analysis of the actual change in the degree of regionalism over the last half-century, distinguishing four major groups of countries as “regions”. Judging by two complementary indices, it appears that the share of regional trading in world trade has increased substantially, so that much of the remarkable expansion of global trade has taken place via the channel of trade within specific regions.


Note

This paper is an elaboration of a presentation in a session on “Regionalism” held at the ASSA meeting in Philadelphia, January 2014.


Acknowledgments

I am indebted to David Wajnryt for computational support and to my colleague Nadav Halevi for helpful discussions.

References

Kleiman, E. 1976. “Trade and the Decline of Colonialism.” Economic Journal86:45980.10.2307/2230793Search in Google Scholar

Michaely, M. 1968. Patterns of Trade”, International Encyclopedia of the Social Sciences, 10813. The Macmillan Co, and the Free Press.Search in Google Scholar

Thorbecke, E. 1960. The Tendency towards Regionalization in International Trade. The Hague: Martinus Nijhoff.10.1007/978-94-015-1053-0Search in Google Scholar

Published Online: 2014-7-15
Published in Print: 2014-10-1

©2014 by De Gruyter

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