Trade and investment in Latin America and Asia: Perspectives from further integration
AbstractRecently, Asian and Latin American countries have engaged in a series of negotiations to liberalize trade and investment flows. This paper analyzes the potential impact of a free trade agreement (FTA) between countries of both regions, applying a world dynamic general equilibrium model (MIRAGE). An important feature of the model is that it includes a new way of modeling bilateral investment flows and bilateral investment agreements. This is especially important given that investment plays a major role in the economic relations of the two regions. Our results show that most countries will benefit from the agreement; nevertheless, the gains of Latin American countries will be higher, especially when all Asian countries participate. In addition, Latin America benefits from increased FDI inflows, mainly from developed Asian countries.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Policy Modeling.
Volume (Year): 34 (2012)
Issue (Month): 2 ()
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Web page: http://www.elsevier.com/locate/inca/505735
Trade liberalization; FTA; Asia; Latin America; CGE modeling;
Find related papers by JEL classification:
- F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
- F15 - International Economics - - Trade - - - Economic Integration
- C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
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