A large and growing number of countries are participating in several preferential trade agreements (EPAs) that increasingly involve broad cooperation in policies that go far beyond trade barriers. I look at the traditional and non-traditional motivations of THE PTAs and their empirical determinants, as well as their impact on trade and multilateral liberalization. I argue that the broad nature of the modern PTA, its substantial creation of bilateral trade and its low impact on member tariffs require us to expand the economic and political structure of traditional PTA models as a static tariff reduction. Throughout this time, I have learned from existing literature and are charting many interesting avenues for future research to improve our understanding of the causes of modern EDPs and their effects on trade-related outcomes and beyond. I am very grateful to editors Kyle Bagwell and Robert Staiger, as well as Stephanie Aaronson, Emily Blanchard, Chad Bown, Kyle Handley, Rob Johnson, Pravin Krishna, Michele Ruta, Emanuel Ornelas, Alan Winters and participants in the Commercial Policy Conference Manual. Marisol Rodriguez-Chatruc and Edith Laget provided excellent support for the research. I recognize the NSF`s financial support under the SES-1360780 grant. The views expressed in this expression are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research. If you know the missing items that are using them, you can help us create those links by adding the corresponding references in the same way as above for each reference item. If you are a registered author of this article, you can also check the “Quotes” tab in your RePEc Author service profile, as some quotes may wait for confirmation. Please note that it may take several weeks for the corrections to filter out the various RePEc services. If CitEc has recognized a reference but has not linked an element of RePEc to it, you can use this form to help you.
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