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Regional and Multiregional Trade Liberalization: The Effects on Trade, Investment and Welfare

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Author Info
McKibbin, W.J.

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Abstract

This paper explores the impact on economies of trade liberalization under alternative regional and multilateral arrangements: unilateral liberalization; liberalization as part of the ASEAN regional grouping; liberalization as part of the APEC regional grouping; or liberalization as part of a multilateral trade liberalization regime. The paper is based on a Dynamic Intertemporal General Equilibrium model (DIGEM) called the Asia-Pacific G-Cubed Model. It is shown that the long run gains from a country's own liberalization tend to be large relative to the gains from other countries liberalizing although this varies across countries.

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Publisher Info
Paper provided by Brookings Institution - Working Papers in its series Papers with number 134.

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Length: 29 pages
Date of creation: 1997
Date of revision:
Handle: RePEc:fth:brooki:134

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Related research
Keywords: TRADE LIBERALIZATION;

Find related papers by JEL classification:
F10 - International Economics - - Trade - - - General
F14 - International Economics - - Trade - - - Country and Industry Studies of Trade

Cited by:
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  1. Park, Innwon, 2008. "Regional Trade Agreements in East Asia: Will They Be Sustainable?," MPRA Paper 5068, University Library of Munich, Germany. [Downloadable!]
    Other versions:
  2. Warwick J McKibbin & K K Tang, 1998. "The Global Economic Impacts of Trade and Financial Reform in China," Departmental Working Papers 1998-08, Australian National University, Economics RSPAS, revised Sep 1998. [Downloadable!]
  3. Michael A. Kouparitsas, 1998. "Dynamic trade liberalization analysis: steady state, transitional and inter-industry effects," Working Paper Series WP-98-15, Federal Reserve Bank of Chicago. [Downloadable!]
  4. Warwick McKibbin & Jong-Wha Lee & Inkyo Cheong, 2004. "A dynamic analysis of the Korea-Japan free trade area: simulations with the G-cubed Asia-Pacific model," International Economic Journal, Korean International Economic Association, vol. 18(1), pages 3-32, March. [Downloadable!] (restricted)
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This page was last updated on 2009-10-24.


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