We address three themes on the New Regionalism.  First, the prominent analogy to a “spaghetti bowl” of economic integration agreements (EIAs) should be replaced by reference to a « market » for EIAs.  We suggest a systematic economic framework for analyzing « competitive liberalization » of governments in a static, long-run context.  Second, we address why ex post measurements of the average (treatment) effects of EIAs on trade seem so « small ».  Third, after addressing evidence for long-run determinants of competitive liberalization, we discuss how one might conceptualize the process by which governments select into EIAs over time, that is, the growth of regionalism.