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Assessing the impact of the EU-sponsored trade liberalization in the MENA countries

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  • Hagemejer, Jan
  • Cieslik, Andrzej

Abstract

The EU-sponsored Barcelona conference in 1995 set the ambitious goal of creating the Euro-Mediterranean Free Trade Area (EUROMED) that would include the European Union and the MENA countries by 2010. The intermediate steps towards building the EUROMED have involved bilateral “vertical” trade liberalization between the EU and the particular MENA countries as well as “horizontal” trade liberalization among themselves. In this paper we evaluate empirically the effects of the new EU Association Agreements with the MENA countries using the augmented gravity equations derived from a variety of neoclassical and new trade theory models and panel data for the period 1980-2004. We find that while these agreements increased significantly imports of the MENA countries from the EU they had no positive impact on their exports to the EU which can be attributed to the asymmetry in trade liberalization between the EU and the MENA countries.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 17721.

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Date of creation: Jun 2009
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Publication status: Published in Journal of Economic Integration 2.24(2009): pp. 344-369
Handle: RePEc:pra:mprapa:17721

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Keywords: bilateral trade; gravity equation; preferential trade liberalization;

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  1. Ludvig Söderling, 2005. "Is the Middle East and North Africa Region Achieving its Trade Potential?," IMF Working Papers 05/90, International Monetary Fund.
  2. Diego Puga & Anthony J. Venables, 1995. "Preferential Trading Arrangements and Industrial Location," CEP Discussion Papers dp0267, Centre for Economic Performance, LSE.
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  5. Dennis, Allen, 2006. "The impact of regional trade agreements and trade facilitation in the Middle East and North Africa region," Policy Research Working Paper Series 3837, The World Bank.
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  8. Maskus, Keith E & Konan, Denise Eby, 1997. "Trade Liberalization in Egypt," Review of Development Economics, Wiley Blackwell, Wiley Blackwell, vol. 1(3), pages 275-93, October.
  9. Alfred Tovias & Sema Kalaycioglu & Inon Dafni & Ester Ruben & Lior Herman, 2007. "What Would Normalisation of Economic Relations Between Mashrek Countries, Turkey and Israel Imply?," The World Economy, Wiley Blackwell, vol. 30(4), pages 665-684, 04.
  10. Peridy, Nicolas, 2005. "The trade effects of the Euro-Mediterranean partnership: what are the lessons for ASEAN countries?," Journal of Asian Economics, Elsevier, Elsevier, vol. 16(1), pages 125-139, February.
  11. Laszlo Matyas, 1997. "Proper Econometric Specification of the Gravity Model," The World Economy, Wiley Blackwell, vol. 20(3), pages 363-368, 05.
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  13. Patricia Augier & Michael Gasiorek, 2003. "The welfare implications of trade liberalization between the Southern Mediterranean and the EU," Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 35(10), pages 1171-1190.
  14. Helpman, Elhanan, 1981. "International trade in the presence of product differentiation, economies of scale and monopolistic competition : A Chamberlin-Heckscher-Ohlin approach," Journal of International Economics, Elsevier, Elsevier, vol. 11(3), pages 305-340, August.
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Cited by:
  1. Sekkat, Khalid, 2012. "Manufactured Exports and FDI in Southern Mediterranean Countries: Evolution, determinants and prospects," CEPS Papers, Centre for European Policy Studies 6849, Centre for European Policy Studies.
  2. elmallah, mariam, 2014. "The Euro-Med Free Trade Area: An Empirical Assessment of the main Trade Agreements' Effects," MPRA Paper 57448, University Library of Munich, Germany.
  3. Pierluigi Montalbano & Silvia Nenci, 2012. "Assessing the Trade Impact of the European Neighborhood Policy on EU-MED Free Trade Area," Working Paper Series 3112, Department of Economics, University of Sussex.
  4. Alberto Behar, 2010. "The impact of North-South and South-South trade agreements on bilateral trade," Economics Series Working Papers CSAE WPS/2010-30, University of Oxford, Department of Economics.
  5. 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.

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