Welfare Gains to UK from a Global Free Trade
AbstractThis paper reports on a 11 region 15 sector global trade model which includes the UK as one of the regions. Model results show that a global elimination of tariffs, export taxes and subsidies raises the volume of global trade. Gains from the global free trade are 1.3 percent of the global GDP, roughly about 325 billion dollars in 1995. In absolute terms Japan gains the most (91 billion dollars) followed by Europe (67 billion dollars) and the USA (54 billion dollars). UK gains about 11 billion dollars (6.8 billion pounds) from multilateral trade liberalisation. These gains are significantly higher than gains reported from unilateral liberalisation obtained from a small open economy model. Gains from free trade as a share of GDP are much higher for emerging countries such as China than for other regions in the model.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by European Research Studies Journal in its journal European Research Studies Journal.
Volume (Year): IV (2001)
Issue (Month): 3-4 (July - December)
Contact details of provider:
Web page: http://www.ersj.eu/
Global trade model; UK economy;
Find related papers by JEL classification:
- C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
- F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Diao, Xinshen & Somwaru, Agapi, 2000. "An Inquiry on General Equilibrium Effects of MERCOSUR--An Intertemporal World Model," Journal of Policy Modeling, Elsevier, vol. 22(5), pages 557-588, September.
- Keshab Bhattarai & John Whalley, 2006.
"The Division and Size of Gains from Liberalization in Service Networks,"
Review of International Economics,
Wiley Blackwell, vol. 14(3), pages 348-361, 08.
- Keshab Bhattarai & John Whalley, 1998. "The Division and Size of Gains from Liberalization of Service Networks," NBER Working Papers 6712, National Bureau of Economic Research, Inc.
- Bhattarai, Keshab & John Whalley, 1998. "The Division and Size of Gains from Liberalization in Service Networks," CSGR Working papers series 03/98, Centre for the Study of Globalisation and Regionalisation (CSGR), University of Warwick.
- Bhattarai, K.R., 2000. "Efficiency and Factor Reallocation Efefcts and Marginal Excess Burden of Taxes in the UK Economy," Papers 278, Universite de Nantes - Economie Internationale et de l'Entreprise.
- Harrison, Glenn W & Rutherford, Thomas F & Tarr, David G, 1997. "Quantifying the Uruguay Round," Economic Journal, Royal Economic Society, vol. 107(444), pages 1405-30, September.
- Lawrence H. Goulder & Lawrence H. Summers, 1987.
"Tax Policy, Asset Prices, and Growth: A General Equilibrium Analysis,"
NBER Working Papers
2128, National Bureau of Economic Research, Inc.
- Goulder, Lawrence H. & Summers, Lawrence H., 1989. "Tax policy, asset prices, and growth : A general equilibrium analysis," Journal of Public Economics, Elsevier, vol. 38(3), pages 265-296, April.
- Madanmohan Ghosh & Carlo Perroni & John Whalley, 1998. "The Value of MFN Treatment," NBER Working Papers 6461, National Bureau of Economic Research, Inc.
Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- Recovery needs more demand not free trade
by Brian Ashcroft in Scottish Economy Watch on 2012-12-11 19:07:01
- Keshab Bhattarai, 2007. "Input–Output and General Equilibrium Models for Hull and Humber Region in England," Atlantic Economic Journal, International Atlantic Economic Society, vol. 35(4), pages 473-490, December.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Eleni Giannakopoulou).
If references are entirely missing, you can add them using this form.