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Arvind Panagariya
World Scientific Publishing Company

Regionalism in Trade Policy: Essays on Preferential Trading

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AuthorArvind Panagariya
PublisherWorld Scientific Publishing Company
PublishedNov 01 2011
Book FormatHardcover
ISBN-139789810238414
Dimensions8.81 X 6.36 X 0.86 inches
Weight 1.05 pounds
BISAC
CategoriesBusiness & Economics > International - Economics & Trade
LanguageEnglish

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Book Description

The signing of the North American Free Trade Agreement (NAFTA) and recent expansions of the European Union have led to renewed efforts to create preferential trade areas (PTAs) around the world including Asia, Africa and Latin America. Because PTAs liberalize trade with union members but not the rest of the world, they are not necessarily a healthy development. By dividing the world into trade blocs, they also threaten to undermine the multilateral trading system.This collection of recently published essays by a leading critic of regionalism offers an assessment of the economic impact of PTAs on member countries and the world. The first set of essays present a theoretical analysis of the issues using simple economic models, and study the relationship between regionalism and multilateralism. Subsequent essays evaluate the role of PTAs in Asia, North America and Latin America. The general theme of the book is that, on balance, trade liberalization through PTAs is a mistake. Trade diversion, and the creation of complicated and discriminatory tariff regimes with increased tariffs for non-member countries -- the consequences of PTAs -- are likely to undermine the multilateral trading system.The book will be useful to academics as well as policy makers and policy analysts. Many of the essays have been featured in newspapers and journals such as the Financial Times, Economist, Journal of Commerce and International Herald Tribune. Some of these essays are already on many reading lists in the United States.

Author Bio

From January 2015 to August 2017, he served as the first Vice Chairman of the NITI Aayog, Government of India in the rank of a Cabinet Minister. During these years, he also served as India’s G20 Sherpa and led the Indian teams that negotiated the G20 Communiqués during presidencies of Turkey (2015), China (2016) and Germany (2017).

Professor Panagariya is a former Chief Economist of the Asian Development Bank and was on the faculty of the Department of Economics at the University of Maryland at College Park from 1978 to 2003. During these years, he also worked with the World Bank, IMF and UNCTAD in various capacities. He holds a Ph.D. degree in Economics from Princeton University.

Professor Panagariya has authored more than fifteen books. His book India: The Emerging Giant (2008, OUP, New York) was listed as a top pick of 2008 by The Economist and described as the “definitive book on the Indian economy” by Fareed Zakaria of the CNN. The Economist has described his book, Why Growth Matters, (with Jagdish Bhagwati) as “a manifesto for policymakers and analysts.”

Scientific papers by Professor Panagariya have appeared in the top economics journals such as the American Economic Review, Quarterly Journal of Economics, Review of Economic Studies and International Economic Review while policy papers by him have appeared in the Foreign Affairs and Foreign Policy. He writes a monthly column in the Times of India and his guest columns have appeared in the Financial Times, Wall Street Journal and India Today.

In March 2012, the Government of India honored Professor Panagariya with Padma Bhusan, the third highest civilian honors the country bestows in any field.

Source: Columbia University

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