| Competitive Liberalization: a Tournament Theory-Based Interpretation (2005) | |||||||||||
Abstract | |||||||||||
| The current U.S. trade policy of competitive liberalization includes the following prominent features: stimulating a competition among trading partners for access to U.S. markets; the inclusion of provisions in trade agreements not directly related to market access; and a greater role for foreign and security policy in U.S. trade policymaking than in the past. I adapt the theory of rank-order tournaments to provide a rationalisation for these three features and explore their implications for the design and sequencing of preferential trade agreements. The role of trade diversion and its relationship to these features assumes a key role in this analysis. | |||||||||||
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