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The MONASH-Multi-Country (MMC) Model and the Investment Liberalisation in China's Oil Industry

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  • Yinhua Mai

Abstract

Computable general equilibrium models have been widely applied in analysing the effects of removing tariffs. However, not nearly as much effort has been devoted to their application on investment liberalisation that is increasingly an integral part of trade liberalisation agreements. The Monash-Multi-Country (MMC) model is developed to meet such policy needs. The MMC model is an advanced dynamic CGE model with bilateral investment flows between countries/regions modelled explicitly at an industry level. This paper describes the model structure and data of the MMC model. Its application is illustrated by a simulation of a potential investment liberalisation in China's oil industry.

Suggested Citation

  • Yinhua Mai, 2005. "The MONASH-Multi-Country (MMC) Model and the Investment Liberalisation in China's Oil Industry," Centre of Policy Studies/IMPACT Centre Working Papers g-150, Victoria University, Centre of Policy Studies/IMPACT Centre.
    • Handle: RePEc:cop:wpaper:g-150
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    References listed on IDEAS

    as
    1. Harrison, W Jill & Pearson, K R, 1996. "Computing Solutions for Large General Equilibrium Models Using GEMPACK," Computational Economics, Springer;Society for Computational Economics, vol. 9(2), pages 83-127, May.
    2. Mai, Yinhua & Horridge, Mark & Perkins, Frances, 2003. "Estimating the Effects of China’s Accession to the World Trade Organisation," Conference papers 331081, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    3. Hertel, Thomas, 1997. "Global Trade Analysis: Modeling and applications," GTAP Books, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University, number 7685, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    China; oil industry; investment liberalisation; CGE modelling;
    All these keywords.

    JEL classification:

    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • F15 - International Economics - - Trade - - - Economic Integration
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements

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