Title: Market presence, contestability, and the terms-of-trade effects of regional integration
First published: 2001
Description: How firms react to a given shock may depend on the degree to which rivals are present and on whether potentially viable entrants to that market exist. A preferred supplier market presence and threat of entry lessen a nonmember country's price reaction to most-favored-nation trade liberalization and increase its price reaction to preferential trade liberalization.
Subjects: Competition, International, International Competition, International trade, Regionalism, Terms of trade
LC classification: HG3881.5.W57