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Australia’s new Free Trade Agreements with Japan and South Korea: Potential Economic and Environmental Impacts

Author

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  • Siriwardana, Mahinda

    (University of New England)

Abstract

This paper examines both the economic and environmental impacts of the two Free Trade Agreements that Australia has recently negotiated with Japan and South Korea using the Global Trade Analysis Project-Environmental general equilibrium model. We analyse two trade policy scenarios: first a Free trade scenario where bilateral tariffs are eliminated between Australia and Japan, and Australia and South Korea; second a Green trade scenario where the Free trade scenario is complemented by an environmental policy using an Emissions Trading Scheme. The results indicate that the two trade agreements enhance Australia’s trade at a modest expense to the environment. This paper illustrates that an Emissions Trading Scheme between Australia, Japan, and South Korea is an expensive policy to mitigate emissions arising from Free Trade Agreements.

Suggested Citation

  • Siriwardana, Mahinda, 2015. "Australia’s new Free Trade Agreements with Japan and South Korea: Potential Economic and Environmental Impacts," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 30(4), pages 616-643.
    • Handle: RePEc:ris:integr:0671
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    Citations

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    Cited by:

    1. Nong, Duy & Warziniack, Travis & Countryman, Amanda M. & Grey-Avis, Erin, 2017. "Effects of a Melting Arctic on Risk of Invasive Species Spread," Conference papers 332828, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    2. Timsina, Krishna P. & Culas, Richard J., 2020. "Impacts of Australia’s free trade agreements on trade in agricultural products: an aggregative and disaggregative analysis," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 64(3), July.
    3. Krishna P. Timsina & Richard J. Culas, 2020. "Impacts of Australia’s free trade agreements on trade in agricultural products: an aggregative and disaggregative analysis," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 64(3), pages 889-919, July.

    More about this item

    Keywords

    Free Trade Agreement; Australia; GTAP-E Model; Emissions; Emissions Trading Scheme;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F15 - International Economics - - Trade - - - Economic Integration
    • F18 - International Economics - - Trade - - - Trade and Environment
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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