"Trade Blocs" analyzes both the political and economic benefits of trade blocs. It addresses the implications of these new forms of trading arrangements, and analyzes the policy options that countries now face. The book comes to some of the following conclusions: **Selecting high-income countries as partners may be the best option for developing countries in terms of potential for income convergence over time. **There is no evidence to suggest that regional agreements either aid or impede (WTO-based) trade liberalization efforts. **Economic gains depend on securing an effective increase in competition on the regional market, minimizing negative transfer effects to partner countries, and increasing openness to trade. An invaluable reference for policymakers, bankers, economists, and all those working in the international financial community. A copublication of the World Bank and Oxford University Press
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