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Regional Trading Arrangements for Chile: do the Results Differ with a Dynamic Model?

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Author Info

  • Thomas F. Rutherford
  • David G. Tarr

Abstract

Starting from our earlier multi-region trade model, we develop two new 24 sector small open economy (SOE) computable general equilibrium models (CGE) of Chile. One is comparative static and the other is dynamic. We evaluate the impact of Chile forming free trade agreements with either NAFTA or MERCOSUR. Our principal result is that the dynamic SOE model does not produce welfare estimates significantly different from the comparative static SOE model. Our second result is that, although the difference is small, it is possible for a fully dynamic model to produce welfare estimates for a preferential trade area that are welfare inferior than those from a comparative static model.

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Bibliographic Info

Article provided by CEPII research center in its journal Economie Internationale.

Volume (Year): (2003)
Issue (Month): 94-95 ()
Pages: 261-281

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Handle: RePEc:cii:cepiei:2003-2q-3qk

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Related research

Keywords: Economic Integration; Trade Forecasting and Simulation; Computable General Equilibrium Models; Computable and Other Applied General Equilibrium Models;

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Citations

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Cited by:
  1. Jesper Jensen & Thomas Rutherford & David Tarr, 2007. "The Impact of Liberalizing Barriers to Foreign Direct Investment in Services: The Case of Russian Accession to the World Trade Organization," Review of Development Economics, Wiley Blackwell, vol. 11(3), pages 482-506, 08.
  2. Jensen, Jesper & Tarr, David G., 2010. "Regional trade policy options for Tanzania : the importance of services commitments," Policy Research Working Paper Series 5481, The World Bank.
  3. Tarr, David G., 2012. "Putting services and foreign direct investment with endogenous productivity effects in computable general equilibrium models," Policy Research Working Paper Series 6012, The World Bank.
  4. Jensen, Jesper & Tarr, David G., 2012. "Deep trade policy options for Armenia: The importance of trade facilitation, services and standards liberalization," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy, vol. 6(1), pages 1-54.
  5. Maldonado, Wilfredo Leiva & Tourinho, Octavio Augusto Fontes & Valli, Marcos, 2007. "Endogenous foreign capital flow in a CGE model for Brazil: The role of the foreign reserves," Journal of Policy Modeling, Elsevier, vol. 29(2), pages 259-276.
  6. Tarr, David, 2012. "Impact of services liberalization on industry productivity, exports and development : six empirical studies in the transition countries," Policy Research Working Paper Series 6023, The World Bank.
  7. Rutherford, Thomas F. & Tarr, David G., 1998. "Trade liberalization and endogenous growth in a small open economy : a quantitative assessment," Policy Research Working Paper Series 1970, The World Bank.
  8. Balistreri, Edward J. & Rutherford, Thomas F. & Tarr, David G., 2008. "Modeling services liberalization : the case of Kenya," Policy Research Working Paper Series 4544, The World Bank.
  9. Mark Partridge & Dan Rickman, 2010. "Computable General Equilibrium (CGE) Modelling for Regional Economic Development Analysis," Regional Studies, Taylor & Francis Journals, vol. 44(10), pages 1311-1328.
  10. Hernandez, Gustavo Adolfo & Light, Miles & Rutherford, Thomas, 2002. "A dynamic general equilibrium model for tax policy analysis in Colombia," MPRA Paper 28435, University Library of Munich, Germany.
  11. Femenia, Fabienne & Alexandre, Gohin, 2009. "Dynamic modelling of agricultural policies: the role of expectation schemes," 2009 Conference, August 16-22, 2009, Beijing, China 51665, International Association of Agricultural Economists.
  12. Perry, Miles, 2008. "Food Production Vs. Biomass Export Vs. Land-Use Change: A Cge Analysis For Argentina," MPRA Paper 13442, University Library of Munich, Germany, revised 16 Feb 2009.
  13. Jensen, Jesper & Tarr, David, 2007. "The impact of Kazakhstan accession to the World Trade Organization : a quantitative assessment," Policy Research Working Paper Series 4142, The World Bank.
  14. Athukorala, Premachandra & Riedel, James, 1994. "Demand and Supply Factors in the Determination of NIE Exports: A Simultaneous Error-Correction Model for Hong Kong: A Comment," Economic Journal, Royal Economic Society, vol. 104(427), pages 1411-14, November.

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