Regionalism in trade: An overview of the last half-century

Michael Michaely*

*Corresponding author for this work

Research output: Contribution to journalReview articlepeer-review

2 Scopus citations

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.

Original languageEnglish
Pages (from-to)425-434
Number of pages10
JournalGlobal Economy Journal
Volume14
Issue number3-4
DOIs
StatePublished - 1 Oct 2014

Bibliographical note

Publisher Copyright:
Copyright © 2011-2015 by Walter de Gruyter GmbH.

Keywords

  • Regionalism
  • Twentieth century
  • World trade

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