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The Greater Arab Free Trade Area(GAFTA): an Estimation of Its Trade Effects

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  • Péridy, Nicolas

    ()
    (Université du Sud Toulon-Var(LEAD))

  • Abedini, Javad

    ()
    (Université du Nantes)

Abstract

In 1997, fourteen Arab countries concluded an agreement, aimed at achieving the Greater Arab Free Trade Area (GAFTA) by 1.1.2007 at the latest. This paper provides a first ex-post appraisal of the GAFTA agreement’s trade effects. Based on new theoretical developments of the gravity equation, we estimate a panel data model which covers trade within the GAFTA area as well as with 35 other reference countries, over the period 1988-2005. Several estimators are presented, especially transformed fixed-effects, Hausman and Taylor as well as a GMM dynamic estimator. As a main finding, the calculation of gross trade creation shows that regional trade has increased by 20% since GAFTA has been implemented.

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Bibliographic Info

Article provided by Center for Economic Integration, Sejong University in its journal Journal of Economic Integration.

Volume (Year): 23 (2008)
Issue (Month): ()
Pages: 848-872

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Handle: RePEc:ris:integr:0456

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Web page: http://econo.sejong.ac.kr/
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Related research

Keywords: regional economic integration; GAFTA; gravity equation; panel data;

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Cited by:
  1. Pierluigi Montalbano & Silvia Nenci, 2012. "Assessing the Trade Impact of the European Neighborhood Policy on EU-MED Free Trade Area," Departmental Working Papers of Economics - University 'Roma Tre' 0147, Department of Economics - University Roma Tre.
  2. Lim, Jamus Jerome & Saborowski, Christian, 2010. "Estimates of trade-related adjustment costs in Syria," Policy Research Working Paper Series 5368, The World Bank.
  3. Carrere, Celine & Gourdon, Julien & Olarreaga, Marcelo, 2012. "Regional integration and natural resources : who benefits ? evidence from MENA," Policy Research Working Paper Series 5970, The World Bank.
  4. Hoekman, Bernard & Zarrouk, Jamel, 2009. "Changes in cross-border trade costs in the Pan-Arab free trade area, 2001-2008," Policy Research Working Paper Series 5031, The World Bank.
  5. Sekkat, Khalid, 2012. "Manufactured Exports and FDI in Southern Mediterranean Countries: Evolution, determinants and prospects," CEPS Papers 6849, Centre for European Policy Studies.
  6. María Dolores Parra Robles & Inmaculada Martínez-Zarzoso & Celestino Suárez Burguet, 2012. "The impact of FTAs on MENA trade," Ibero America Institute for Econ. Research (IAI) Discussion Papers 217, Ibero-America Institute for Economic Research.
  7. Marek Gora & Grzegorz Kula & Oleksandr Rohozynsky & Magdalena Rokicka & Anna Ruzik, 2009. "Social Security, Labour Market and Restructuring: Current Situation and Expected Outcomes of Reforms," CASE Network Reports 0090, CASE-Center for Social and Economic Research.

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