Going Alone: The Case for Relaxed Reciprocity in Freeing Trade

ISBN 10: 0262025213 / ISBN 13: 9780262025218

Published by MIT Press, 2002

About this Item

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Bibliographic Details

• Title: Going Alone: The Case for Relaxed Reciprocity in Freeing Trade
• Publisher: MIT Press
• Publication Date: 2002
• Language: English
• ISBN 10: 0262025213
• ISBN 13: 9780262025218
• Binding: hardcover
• Condition: Fine

About this title

Synopsis

An analytic and empirical study of unilateral trade liberalization agreements, from the nineteenth century to the present.

Since the end of World War II, the freeing of trade has been most visible in reciprocal liberalization agreements negotiated under the General Agreement on Tariffs and Trade, or GATT, and through increasing bilateral and plurilateral agreements. There has also, however, been a significant, if less visible, unilateral freeing of trade by several nations.

This book, based on a research project directed by Jagdish Bhagwati, examines the experiences with such unilateral trade liberalization. Part 1 considers historical experiences, following Britain's unilateral embrace of free trade. Part 2 discusses recent examples, and Part 3 discusses unilateral liberalization in specific sectors. The substantive introduction provides a synthesis of the findings as well as theoretical support. It argues that although unilateral freeing of trade is generally less beneficial than reciprocity, it can trigger sequential reciprocity through example or by encouraging lobbies abroad to favor trade expansion.

About the Author

Jagdish N. Bhagwati is University Professor of Economics, Law, and International Relations at Columbia University and former Adviser to the Director General of GATT, Arthur Dunkel. He is the author (with Arvind Panagariya) of Why Growth Matters: How Economic Growth in India Reduced Poverty and the Lessons for Other Developing Countries.