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Scientific article
English

A simple model of the juggernaut effect of trade liberalisation

Published inInternational Economics, vol. 143, p. 70-79
Publication date2015
Abstract

This paper posits a political economy model where (i) reciprocity in multilateral trade talks results in a one-off tariff cut below their unilateral level because reciprocal trade talks turn each nation's exporters into anti-protectionists at home and (ii) this one-off global tariff is self-reinforcing because it reshapes the political economy landscape via entry and exit.

Keywords
  • Reciprocal trade liberalization
  • Juggernaut effect
Citation (ISO format)
BALDWIN, Richard, ROBERT-NICOUD, Frédéric. A simple model of the juggernaut effect of trade liberalisation. In: International Economics, 2015, vol. 143, p. 70–79. doi: 10.1016/j.inteco.2015.04.008
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