Price data on exports to Brazil from countries excluded from MERCOSUR show that preferential trading agreements hurt nonmember countries by compelling them to r

Covers trends from 1957 to 1995.

It has been widely argued that, with the decline in trade costs, the importance of distance has declined over time. On the other hand, most gravity models find

Price data on exports to Brazil from countries excluded from MERCOSUR show that preferential trading agreements hurt nonmember countries by compelling them to r

Global commerce is rapidly organizing around regional trading blocs in North America, Western Europe, Pacific Asia, and elsewhere--with potentially dangerous co