On the Explanation of Regionalism Waves

초록

From a historical perspective, the world has experienced two waves of preferential trade agreement (PTA) proliferation. The first wave was in the late 1960s when the global average tariff level was still significantly high. The second wave emerged in the mid-1990s when the global average tariff level was already quite low. This study provides a theoretical framework to explain the mechanism behind the two waves of regionalism.

키워드