Warning: Bilateral trade agreements do not create trade
Copyright policy )Warning: Bilateral trade agreements do not create trade
ABSTRACTBoth bilateral and plurilateral trade agreements have grown in number over the past three decades, but their potential impact on trade may be different. This paper sheds light on the ex post (partial) effect of bilateral versus plurilateral trade agreements using the most recent econometric developments for the gravity equation on a dataset that covers 211 countries and territories over the period 1948–2013. Our results show that plurilateral trade agreements have significantly increased trade among trading partners, while this has not been the case for bilateral trade agreements.
- University of Valencia Spain
gravity equation, Trade models, bilateral trade agreements, plurilateral trade agreements, trade flows
gravity equation, Trade models, bilateral trade agreements, plurilateral trade agreements, trade flows
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