TY - BOOK AU - Bayoumi,Tamim AU - Eichengreen,Barry ED - National Bureau of Economic Research. TI - Is Regionalism Simply a Diversion? Evidence From the Evolution of the EC and EFTA T2 - NBER working paper series PY - 1995/// CY - Cambridge, Mass. PB - National Bureau of Economic Research N1 - October 1995; Hardcopy version available to institutional subscribers N2 - This paper considers the impact on trade of preferential arrangements in Europe since the 1950s. Using a first difference version of the gravity model, we find that the EC and EFTA altered the pattern of international trade. We also find evidence of trade diversion in several cases, notably that of the EC in the 1960s UR - https://www.nber.org/papers/w5283 UR - http://dx.doi.org/10.3386/w5283 ER -