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Assessing the Political Economy Factors on Trade Integration: Rules of Origin under NAFTA
( Alberto Portugal Perez ) 세종대학교 경제통합연구소(구 세종대학교 국제경제연구소) 2011 Journal of Economic Integration Vol.26 No.2
Rules of origin (RoO) are legitimate policy instruments to prevent trade deflection in a Preferential Trade Agreement (PTA) short of a customs union. Yet, when captured by special interest groups, RoO can restrict trade beyond what is needed to prevent trade deflection. By how much do political economy factors account for the stringency of RoO? This study quantifies the impact of both determinants, those deemed as "justifiable" on the ground of preventing trade deflection and those arising from "political economy" forces, on the restrictiveness of RoO under NAFTA. The main finding is that political economy forces, especially from the US, significantly raised the restrictiveness of the RoO. Thus stricter RoO are associated with higher production costs reducing the potential benefits of enhanced market access initially pursued by the agreement.
( Olivier Cadot ),( Jaime De Melo ),( Alberto Portugal Perez ) 세종대학교 경제통합연구소 2007 Journal of Economic Integration Vol.22 No.2
With free trade areas (FTAs) under negotiation between Japan and the ASEAN Free Trade Area (AFTA) members and between the Republic of Korea and AFTA members, preferential market access will become more important in Asian regionalism. Protectionist pressures will likely increase through rules of origin, the natural outlet for these pressures. Based on the experience of the European Union and the United States with rules of origin, this paper argues that, should these FTAs follow in the footsteps of the EU and the US and adopt similar RoO, trading partners in the region would incur unnecessary costs. Using EU trade with GSP and ACP partners, the paper estimates how the utilization of preferences would likely change if AFTA were to veer away from its current uniform RoO requiring a 40% local content rate. Depending on the sample used, a 10 percentage point reduction in the local value content requirement is estimated to increase the utilization rate of preferences by between 2.5 and 8.2 percentage points.