INSTITUTIONALIZING NAFTA

This paper set out to investigate institutionalization of NAFTA in particular, with some interest in relating the authors' findings to trade agreements in general. The fundamental result is that institutionalization of NAFTA is the rule rather than the exception, with the sum of internal and ex...

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Bibliographic Details
Published in:Law and business review of the Americas 2005-07, Vol.11 (3/4), p.551
Main Authors: Lusztig, Michael, Patrick, James
Format: Article
Language:English
Subjects:
Constitutional law
Constitutions
Cooperation
Economic models
Expected utility
Free markets
Free trade
Institutionalization
International agreements
North American Free Trade Agreement
Political parties
Product lines
Trade liberalization
Trade relations
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Summary:This paper set out to investigate institutionalization of NAFTA in particular, with some interest in relating the authors' findings to trade agreements in general. The fundamental result is that institutionalization of NAFTA is the rule rather than the exception, with the sum of internal and external forces after liberalization always pointing toward such policies being sustained in the future among the countries concerned. Also this paper revisits each of the cases individually and finishes up with some general observations. Overall, NAFTA can be described as institutionalized across the board. It is interesting to consider that result in the context of variation among the US, Canada and Mexico, which differ from each other along very salient characteristics such as size of population, military power, political culture, and a range of others. The institutionalization of NAFTA among its diverse members suggests that the model of rent seeking introduced in this paper may have general relevance.
ISSN:1571-9537