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.
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© 2016 Geoffrey Allen Pigman
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Pigman, G.A. (2016). Institutionalization: The Second Transformation. In: Trade Diplomacy Transformed. International Political Economy Series. Palgrave Macmillan, London. https://doi.org/10.1057/9781137546654_3
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DOI: https://doi.org/10.1057/9781137546654_3
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