区域贸易安排

1、国际贸易国际贸易广州大学华软软件学院国际经贸系广州大学华软软件学院国际经贸系 贺贺 锋锋2012-20132012-2013第二学期第二学期LOGO 第二节第二节 2 第一节第一节 1第八章第八章 区域贸易安排区域贸易安排 第三节第三节 3 第四节第四节 4LOGORegional Integration vs Multilateralism P291oregional trade blocs could be a complement to multilateralism by setting a precedent which other nations will followocan l

2、ead to deeper integrationohowever regional agreements are also discriminatory in that some nations are treated differently than othersodecreases incentives for nations to pursue multilateral agreementsotrade bloc members may not gain additional economies of scale through multilateralism区域经济一体化与多边主义区

3、域经济一体化与多边主义LOGOTypes of Regional Agreements P292oFree-trade area agreement to remove trade barriers among members.example: NAFTAoCustoms union agreement to remove trade barriers among members and impose uniform trade restrictions against non-members.example: BeneluxoCommon market agreement that perm

4、its (1) free trade among members; (2) common external trade restrictions; (3) free movement of factors of production.example: EU区域经贸协议的类型区域经贸协议的类型LOGOTypes of Regional Agreements (cont.)oEconomic union common market agreement with P293:1) common national, taxation, fiscal, and social policies among

5、members2) transfers of sovereignty to a supranational authority example: Belgium and Luxembourg 1920soMonetary union P293 economic union with additional characteristic of common monetary policy and common currency P293 example: United States区域经贸协议的类型区域经贸协议的类型经济同盟经济同盟货币同盟货币同盟LOGOStatic Effects of Tra

6、de ArrangementsWith Tariff:(before customs union)red triangle = consumer surplusgreen triangle = producer surplusblack rectangle = tariff revenuea + b = deadweight lossLOGOStatic Effects of Trade ArrangementsWith Customs Union:agreement with Germany will lower the price to SGtrade-creation effect:we

7、lfare losses now part of consumer surplus a = production effect b = consumption effecttrade-diversion effect: area clost benefits from lower cost suppliersLOGODynamic Effects of Trade Arrangementso economies of scale access to a larger market allows producers to become more efficient through greater

8、 specialization, better equipment, and usage of by-productso greater competition increased number of producers makes collusion less likely and forces firms to become more efficiento stimulus of investment because of increased rate of return and ability to spread R&D costs trade makes greater levels

9、of investment more likelyLOGOEuropean Union P300Treaty of Rome 1957 established European Community precursor to EU1)1957: Belgium, France, Italy, Luxembourg, Netherlands & West Germany2)1973: United Kingdom, Ireland & Denmark3)1981: Greece4)1987: Spain & Portugal5)1995: Austria, Finland & Sweden6)20

10、04: Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia & Slovenia7)2007: Bulgaria & RomaniaLOGOEuropean o EU members removed tariffs in 1968 leading to fivefold increase in tradeo EU adopted common external tariffs in 1970 making it a customs uniono trade creation:

11、machinery, transportation equipment, chemicals & raw materialso trade diversion: agricultural commodities and raw materialso trade creation exceeded trade diversiono EU saw increases in economies of scale, competition & investmento 1985 EU eliminated nontariff barriers resulting in creation of Europ

12、ean common marketLOGOEuropean Union & Maastricht P301 o 1991 Maastricht Treaty established monetary union and euro as common currency by 2002o convergence criteria:1) inflation 1.5% above average inflation of three countries with lowest inflation2) long term interest rates 2.0% above average of same

13、 three countries3) exchange rate within target bands of monetary union for 2 years4) budget deficit 3.0% of GDP5) government debt 60.0% of GDP欧盟与马斯特里赫协议欧盟与马斯特里赫协议LOGOEU Agricultural Policy - Variable Levies P303ono restriction on agriculture traded internallyoEU policy based in part on variable levi

14、esoadjusted to maintain desired price levelsomore restrictive than an import quota in that foreign producers cannot cut prices and absorb tariff cost to maintain export sales欧盟农业政策欧盟农业政策-差价税差价税LOGOEU Agricultural Policy Subsidies P304oexport subsidies also used to maintain higher prices of EU - comm

15、on policyoEU producers sell for low price but receive higher priceoEU purchases any surplusosurplus then sold on world market for lower price欧盟农业政策欧盟农业政策补贴补贴LOGOGovernment Procurement Policiesogovernment purchases previously limited primarily to domestic producerso1992 EU required bidding process fr

16、om EU firmsobenefits:governments purchase from lower cost producersincreased competitionremaining firms produce with economies of scale 政府采购政策政府采购政策LOGOEuropean Monetary Union P306A common currency also implied the need for a single European Central Bank responsible for all monetary and exchange rat

17、e policies of the EMU.oadvantages: eliminated exchange rate risk reduced currency conversion costs insulation from monetary disturbance & speculationodisadvantages: loss of individual monetary authority transition to common currency could lead to speculative attacks欧洲货币联盟欧洲货币联盟LOGOOptimum Currency A

18、reas P307o definition region in which it is economically preferable to have a single official currencyo success of common currency area:similar business cycles similar economic structuressingle monetary policy affecting all members in same mannerabsence of legal or cultural barriers that would limit

19、 labor mobilitywage flexibilitystabilizing transfer systemo EU concerns based on rigid wages and limited labor mobility tied to cultural factors最优货币区最优货币区LOGONorth American Free Trade Agreemento free trade area for U.S., Canada & Mexico but not a customs uniono issues: U.S. & Canada represented deve

20、loped economies while Mexico was a developing economy Mexicos authoritarian political system substantial difference in standard of living between Mexico and Canada & U.S.o decision: integrate Mexico to stimulate development or allow problems in that nation to continue to spill over borders北美自由贸易区北美自

21、由贸易区LOGOBenefits to Mexicoo substantial benefits for Mexico because it integrated with much larger economieso increase in production of goods in which it has comparative advantageo gains at the expense of other low-wage nationso increases in agricultural goods and labor intensive goodso agriculture

22、represents small portion of GDP but supports roughly 25% of the population给墨西哥带来的好处给墨西哥带来的好处LOGOBenefits & Concerns for Canadao Benefits: maintain status in international trade free trade preference in U.S. market equal access to Mexicos market inclusion in future free trade area with Central & Sout

23、h America economies of scale associated with increased output levelso Possible Cost: closer integration with U.S. as potential threat to Canadas social welfare system加拿大的关注和好处加拿大的关注和好处LOGOEconomies of Scale from NAFTAoaccess to additional markets increases demandoCanadian producers can sell more aut

24、osoincreased consumer surplus due to lower priceono worse for producers since costs have dropped北美自由贸易区的经济规模北美自由贸易区的经济规模LOGOBenefits & Costs to the U.S. P314o Benefits: expanded trade increased competition and lower prices enhanced economies of scale decrease in illegal immigration improved politica

25、l stability in Mexicoo Costs: U.S. industries competing with imports impact on unskilled workers domestically potential for environmental consequences limited benefits due to relative size of these economies美国的成本和好处美国的成本和好处LOGOLabor Cost Compared to ProductivityoWould NAFTA cause many U.S. companies

26、 to relocate to Mexico due to lower wages?oProductivity is a major factor in determining cost per unit of output.oBased on higher productivity, U.S. workers can still receive higher wages.与生产率相比较的劳动力成本与生产率相比较的劳动力成本LOGONAFTA as Optimum Currency Area?o measures of economic integration: Canada & Mexico are the U.S. largest trading partnerso Canada & U.S.: advanced industrial economies with similar per capita incomes, inflation rates and interest rateso Mexico: lower average per capita income, higher inflation rate, higher int