New Regionalism and Global Economic Governance

Author(s): 
Pages: 
19
Item Reference: 
W-2002/2
Publication Date: 
2002
Publication Place: 
Bruges
Publication Language: 
EN
Publisher: 
UNU Institute on Comparative Regional Integration Studies
Series Title: 
UNU-CRIS Working Papers
Working Paper Type: 
Abstract: 

Economists are all very fond of the international trade theory, which they see with reason, as one of the few robust paradigms available in their quest for efficiency. For decades, until the early 90's, trade liberalisation has vindicated their judgement since it has been credited with being the main source of world growth. The very fact that international trade was rising twice as fast as world output provided strong and convincing evidence of this powerful link.