DOI: 10.1093/9780198962595.003.0003 ISSN:
International Economics for Comparative Trade Law
Alan O SykesAbstract
This chapter explores the possible role of international economics in the study of comparative trade law. The analysis proceeds at a high level of generality, suggesting a template for economic analysis that can apply to many comparative topics. The chapter first considers the political economy forces that drive the formulation of trade-related policies, focusing on noncooperative policy formulation at the national level. It then addresses the externalities that may arise from noncooperative national policies and the economic pathologies that can result. It concludes with a discussion of trade agreements as a solution to externality problems.