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221013 ||| eng |
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|a Venables, Anthony
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| 245 |
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|a Regional Integration Agreements
|h Elektronische Ressource
|b A Force for Convergence or Divergence?
|c Venables, Anthony
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| 260 |
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|a Washington, D.C
|b The World Bank
|c 1999
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| 300 |
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|a 36 p.
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| 653 |
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|a Comparative Advantage
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| 653 |
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|a Macroeconomics and Economic Growth
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| 653 |
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|a Income
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| 653 |
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|a Country Strategy and Performance
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| 653 |
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|a Financial Literacy
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| 653 |
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|a International Economics & Trade
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| 653 |
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|a Income Levels
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| 653 |
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|a Trade Policy
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| 653 |
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|a Production
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| 653 |
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|a Social Protections and Labor
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| 653 |
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|a Development Economics
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| 653 |
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|a Outcomes
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| 653 |
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|a Welfare
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| 653 |
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|a Inequality
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| 653 |
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|a Poverty Reduction
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| 653 |
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|a Per Capita Income
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| 653 |
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|a Private Sector Development
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| 653 |
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|a Trade Law
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| 653 |
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|a Real Income
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| 653 |
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|a Agriculture
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| 653 |
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|a Human Capital
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| 653 |
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|a Economic Performance
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| 653 |
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|a Economic Integration
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| 653 |
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|a Value
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| 653 |
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|a Free Trade
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| 653 |
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|a Value Added
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| 653 |
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|a Trade Diversion
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| 653 |
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|a Emerging Markets
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| 653 |
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|a Consumers
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| 653 |
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|a Public Sector Development
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| 653 |
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|a Law and Development
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| 653 |
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|a Per Capita Incomes
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| 653 |
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|a Theory
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| 653 |
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|a Finance and Financial Sector Development
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| 653 |
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|a Trade and Regional Integration
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| 653 |
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|a Economic Theory and Research
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| 700 |
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|a Venables, Anthony
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| 041 |
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|a eng
|2 ISO 639-2
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| 989 |
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|b WOBA
|a World Bank E-Library Archive
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| 856 |
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|u http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-2260
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a December 1999 - Developing countries may be better served by north-south than by south-south free trade agreements. Free trade agreements between low-income countries tend to lead to divergence in member country incomes, while agreements between high-income countries tend to lead to convergence. Venables examines how benefits - and costs - of a free trade area are divided among member countries. Outcomes depend on the member countries' comparative advantage, relative to one another and to the rest of the world. Venables finds that free trade agreements between low-income countries tend to lead to divergence in member country incomes, while agreements between high-income countries tend to lead to convergence. Changes induced by comparative advantage may be amplified by the effects of agglomeration. The results suggest that developing countries may be better served by north-south than by south-south free trade agreements, because north-south agreements increase their prospects for convergence with high-income members of the free trade area. In north-south free trade agreements, additional forces are likely to operate. The agreement may be used, for example, as a commitment mechanism to lock in economic reforms (as happened in Mexico with the North American Free Trade Agreement and in Eastern European countries with the European Union). A free trade agreement may also - through its effect on trade and through foreign direct investment - promote technology transfer to lower-income members. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to study the effects of regional integration. The author may be contacted at avenables@worldbank.org
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