SMU SOE Seminar (November 25, 2022): Harmonization...What Else? The Role for International Regulatory Agreements

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ABSTRACT We examine the role for international agreements on product standards when countries have different regulatory preferences and firms incur fixed costs of regulatory heterogeneity. We explore under what conditions countries choose to harmonize standards in the non-cooperative scenario, and whether international cooperation promotes harmonization or encourages diversification of standards. We identify circumstances in which international agreements play a coordination role in the presence of multiple equilibria. The model also points to a potential role of regulatory cooperation in expanding the extensive margin of trade. Finally, through the lens of our model, we examine the “pop critique” of regulatory agreements, according to which lobbying by big firms may lead to welfare-reducing harmonization. Click here to view the CV.
		PRESENTER Giovanni Maggi Yale University
		RESEARCH FIELDS International Trade International Political Economy Contracts and Institutions
		DATE: 25 November 2022 (Friday)
		TIME: 4pm - 5.30pm
		VENUE: Meeting Room 5.1, Level 5 School of Economics Singapore Management University 90 Stamford Road Singapore 178903

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