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Effective protection and investment incentives in Egypt and Jordan during the transition to free trade With Europe

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  • Hoekman, Bernard
  • Djankov, Simeon

Abstract

This paper assesses the possible impact of a Euro-Mediterranean Agreement (EMA) on Egypt and Jordan and identifies policy options that will increase the benefits of free trade with Europe. The extent to which these countries will benefit from an EMA depends greatly on the investment response and thus on improvements in the investment climate. The latter will be determined by many factors. Three that can be affected by an EMA and are emphasized are the modalities of the tariff reduction strategy that will be pursued, the extent to which transaction costs are reduced, and upgrading the quality and lowering the costs of intermediate service inputs through greater competition. Many of the policy and institutional changes that are required are not or only in part subject to the coverage of the EMA.
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  • Hoekman, Bernard & Djankov, Simeon, 1997. "Effective protection and investment incentives in Egypt and Jordan during the transition to free trade With Europe," World Development, Elsevier, vol. 25(2), pages 281-291, February.
  • Handle: RePEc:eee:wdevel:v:25:y:1997:i:2:p:281-291
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    References listed on IDEAS

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    1. Rutherford, Thomas F. & Rutstrom, E.E. & Tarr, David, 1993. "Morocco's free trade agreement with the European community : a quantitative assessment," Policy Research Working Paper Series 1173, The World Bank.
    2. Franz Gehrels, 1956. "Customs Union from a Single-Country Viewpoint," Review of Economic Studies, Oxford University Press, vol. 24(1), pages 61-64.
    3. Haddad, Mona & Harrison, Ann, 1993. "Are there positive spillovers from direct foreign investment? : Evidence from panel data for Morocco," Journal of Development Economics, Elsevier, vol. 42(1), pages 51-74, October.
    4. Kowalczyk, C. & Wannacott, R.J., 1992. "Hubs and Spokes , and Free Trade in the Americas," UWO Department of Economics Working Papers 9209, University of Western Ontario, Department of Economics.
    5. Carsten Kowalczyk, 1990. "Welfare and Customs Unions," NBER Working Papers 3476, National Bureau of Economic Research, Inc.
    6. Corden, W.M., 1984. "The normative theory of international trade," Handbook of International Economics,in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 1, chapter 2, pages 63-130 Elsevier.
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    Citations

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    Cited by:

    1. Francois, Joseph F. & McQueen, Matthew & Wignaraja, Ganeshan, 2005. "European Union-developing country FTAs: overview and analysis," World Development, Elsevier, vol. 33(10), pages 1545-1565, October.
    2. Hoekman, Bernard & Konan, Denise Eby, 1999. "Deep integration, nondiscrimination, and Euro-Mediterranean free trade," Policy Research Working Paper Series 2130, The World Bank.
    3. Mattoo, Aaditya & Rathindran, Randeep, 2006. "Measuring Services Trade Liberalization and Its Impact on Economic Growth: An Illustration," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 21, pages 64-98.
    4. FERABOLI Omar, "undated". "A Dynamic Analysis of Jordan’s Trade Liberalisation," EcoMod2003 330700052, EcoMod.
    5. Hoekman, Bernard & Mattoo, Aaditya, 2008. "Services trade and growth," Policy Research Working Paper Series 4461, The World Bank.
    6. Bernard Hoekman & Will Martín, 1999. "Some Market Access Issues for Developing Countries in a Millennium Round: Results from Recent World Bank Research," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 36(109), pages 947-978.
    7. Omar FERABOLI, "undated". "A Dynamic Multisectoral Analysis of Jordan's Trade Liberalisation," EcoMod2004 330600050, EcoMod.
    8. Feraboli Omar, 2007. "Preferential Trade Liberalisation, Fiscal Policy Responses and Welfare: A Dynamic CGE Model for Jordan," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 227(4), pages 335-357, August.
    9. Marchetti, Juan A., 2004. "Developing countries in the WTO services negotiations," WTO Staff Working Papers ERSD-2004-06, World Trade Organization (WTO), Economic Research and Statistics Division.
    10. Bernard Hoekman & Denise Eby Konan, 1998. "Deep Integration, Regionalism and Nondiscrimination," Working Papers 199804, University of Hawaii at Manoa, Department of Economics.

    More about this item

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade

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