How Preferential Trade Agreements (PTAs) Affect Non-Members.

Since the conclusion of the Uruguay Round in 1994, participation in preferential trade agreements (PTAs) has proliferated rapidly. In 1990, there were only about 70 PTAs in force. By 2010 the number of PTAs increased to almost 300. On one hand we have known since Viner (1950) that PTA formation could potentially reduce world welfare. More […]