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The Long-Run Impact of Trade Liberalization on Real GDP and Sectioral Adjustments

Author

Listed:
  • Hiro Lee

    (Kobe University)

  • David Roland-Holist

    (Mills College)

  • Dominique Van Mensbrugghe

    (The World Bank)

Abstract

On the threshold of a new century, most of the APEC countries are embarking on an ambitious plan for open multilateralism. Using an 18-region, 16-sector dynamic computable general equilibrium (CGE) model of the global economy, we appraise the effects of APEC trade liberalization on member-country real GDP, sectoral output, exports and imports by the year 2020. 0ur results suggest that developing-country APEC members could realize significantly greater gains in real GDP than developed members. Although implied structural adjustments may be challenging for some groups, they are necessary if each member economy and the region as a whole are to realize the full economic potential of expanded regional trade.

Suggested Citation

  • Hiro Lee & David Roland-Holist & Dominique Van Mensbrugghe, 2001. "The Long-Run Impact of Trade Liberalization on Real GDP and Sectioral Adjustments," Kobe Economic & Business Review, Research Institute for Economics & Business Administration, Kobe University, vol. 45, pages 57-83, February.
    • Handle: RePEc:kob:review:feb2001::v:45:p:57-83
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    More about this item

    Keywords

    APEC; trade libralization; CGE model;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade

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