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Trade Liberalization in Latin America and Eastern Europe: the Cases of Ecuador and Slovenia

Author

Listed:
  • Sang-Wook (Stanley) Cho

    (University of New South Wales)

  • Julián P. Díaz

    (Bowdoin College)

Abstract

We analyze the potential effects of ongoing trade reforms: Ecuador signing an FTA with the US, and Slovenia joining the EU. We construct a static Applied General Equilibrium Model and perform numerical experiments eliminating all import tariffs. Based on Input-Output tables, we construct Social Accounting Matrices for each country for calibration. Additional experiments are performed: sensitivity analyses on the trade elasticities, partial liberalizations, fiscal impacts of eliminating tariff revenues, and an alternative Slovenian liberalization framework. We find that both countries benefit from these reforms, with import prices falling and exports rising. However, different arrangements of trade liberalization have different implications on trade and welfare patterns.

Suggested Citation

  • Sang-Wook (Stanley) Cho & Julián P. Díaz, 2008. "Trade Liberalization in Latin America and Eastern Europe: the Cases of Ecuador and Slovenia," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 23, pages 1002-1045.
    • Handle: RePEc:ris:integr:0462
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    Cited by:

    1. Sang‐Wook (Stanley) Cho & Julian P. Diaz, 2011. "The Welfare Impact Of Trade Liberalization," Economic Inquiry, Western Economic Association International, vol. 49(2), pages 379-397, April.
    2. Okodua, Henry, 2014. "Household Welfare Impact of Trade Liberalization in Nigeria: A Computable General Equilibrium Model," Conference papers 332440, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.

    More about this item

    Keywords

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    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F15 - International Economics - - Trade - - - Economic Integration

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