The Intra-Bloc Trade of Benelux
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1.1 From the economic point of view the ultimate aim of a customs union is not to foster trade for its own sake, but to increase economic welfare by removing trade restrictions. No increase can, however, be anticipated without a change in the pattern of trade. An investigation of these changes in pattern is therefore necessary as a preliminary step before proceeding to estimate the welfare effects upon the countries considered or the world as a whole. Only the changes in trade pattern fall within the scope of this paper.
KeywordsComparative Advantage Foreign Trade Total Export Supply Curve Custom Union
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