In this paper we provide an economic assessment of the Uruguay Round agreements on tariffs, textiles and clothing, and agriculture, highlighting scale economies, imperfect competition, and dynamic linkages between trade, incomes, and investment. We present estimates of the welfare effects of the individual agreements and their overall impact on different regions in the world. We also provide a decomposition of estimates with respect to various assumptions about model structure. The inclusion of imperfect competition, scale economies, and capital accumulation effects proves to be important, not least for developing countries.
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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number
1067.
Find related papers by JEL classification: D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models F10 - International Economics - - Trade - - - General F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies
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