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|Title:||Camouflaged Trade Agreements|
School of Economics
Common External Tariff
Free Trade Area
General Agreement on Tariffs and Trade
World Trade Organization
|Publisher:||School of Economics|
|Abstract:||We raise the possibility that at least some of the free trade areas observed in practice are customs unions in disguise. We distinguish between generalized and standard customs unions. While members of the former can choose different external tariff rates, members of the latter levy a common external tariff. The chief insight is that, in practice, it is typically not possible to differentiate between a generalized customs union and a free trade area. We demonstrate that generalized customs unions will be established and offer an explanation for the design of Article XXIV of the General Agreement on Tariffs and Trade.|
|Department/Unit/Centre:||School of Economics|
|Type of Work:||Working Paper|
|Appears in Collections:||Working Papers - Economics|
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