Trade-offs in Trade Liberalization: Evidence from the Philippine 2005 Tariff Changes
AbstractThis paper provides a quantitative assessment of the tariff changes implemented by the Philippines in 2005. It evaluates the impacts of these changes on the macroeconomy and on major industries and regions of the country. It also examines the impact of alternative tariff policies that the government could have considered over the period. Using TARFCOM, a computable general equilibrium model developed for the Philippines, we demonstrate the trade–off between output growth and tariff revenues in trade liberalization. Changes in tariff rates could have a significant effect on the financial position of the government. In light of government dependence on tariff revenues, the success of tariff reform is contingent upon development of alternative revenue sources and the institutional mechanisms for effective tax administration.
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Bibliographic InfoArticle provided by Center for Economic Integration, Sejong University in its journal Journal of Economic Integration.
Volume (Year): 22 (2007)
Issue (Month): ()
Trade liberalization; Computable general equilibrium; Tariff reform; Philippines;
Find related papers by JEL classification:
- F14 - International Economics - - Trade - - - Empirical Studies of Trade
- F15 - International Economics - - Trade - - - Economic Integration
- F17 - International Economics - - Trade - - - Trade Forecasting and Simulation
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- U-Primo E. Rodriguez & Yolanda t. Garcia & Arnulfo G. Garcia & Reynaldo L. Tan, 2007. "Can Trade Policies Soften the Economic Impacts of an Avian Influenza Outbreak? Simulations from a CGE Model of the Philippines," Asian Journal of Agriculture and Development, Southeast Asian Regional Center for Graduate Study and Research in Agriculture, vol. 4(2), pages 41-50, December.
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