Multi-lateral trade negotiations and the Most Favored Nation clause |
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Authors: | Phillip McCalman |
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Institution: | Department of Economics, University of California, Santa Cruz, CA 95064, USA |
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Abstract: | This paper considers the interaction between private information and the Most Favored Nation clause in trade negotiations. It demonstrates that by aggregating uncertainty over a number of trading partners, the Most Favored Nation clause may offer a welfare improvement over a set of bilateral trade negotiations. This improvement is shown to be most pronounced when a large number of countries are involved in negotiations. |
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Keywords: | Economic integration Private information Most Favored Nation |
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