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Institutionalization: The Second Transformation

  • Geoffrey Allen Pigman
Chapter
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Part of the International Political Economy Series book series (IPES)

Abstract

The second major transformation in trade diplomacy was the process through which venues for trade diplomacy have been transformed into institutions at which or within which trade diplomacy is conducted. Formats and structures of institutions and venues affect trade diplomacy and its prospects for success by conditioning who can communicate with whom and under what rules, as well as what sorts of agreements can be reached and how they are enforced. From the explosion of trade diplomacy in the nineteenth century up until the Second World War, bilateral trade agreements between nation-states remained the most common form of trade pact. Yet since the early twentieth century such treaties have been augmented and in some cases supplanted by regional agreements, such as the treaties of the European Union, NAFTA, MERCOSUR, and SACU; by plurilateral pacts, such as the Yaoundé/Lomé/Cotonou Conventions (between the EU and ACP states); by diplomatic coöperation between groups of large emerging economies in different regions, such as BRICS; and by multilateral trade agreements, such as the GATT/WTO.

Keywords

World Trade Organization Trade Policy Trade Liberalization North American Free Trade Agreement European Economic Community 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Geoffrey Allen Pigman 2016

Authors and Affiliations

  • Geoffrey Allen Pigman
    • 1
  1. 1.University of PretoriaSouth Africa

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