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Morocco's free trade agreement with the EU: A quantitative assessment

In: APPLIED TRADE POLICY MODELING IN 16 COUNTRIES Insights and Impacts from World Bank CGE Based Projects

Author

Listed:
  • Thomas F. Rutherford
  • E. Elisabet Rutstrom
  • David Tarr

Abstract

Using an applied general equilibrium model, we find that the EU–Morocco free trade area (FTA) will increase Moroccan welfare by about 1.5% of its GDP, showing that trade diversion is not dominant. The gains increase to about 2.5% of GDP if Morocco adds trade liberalization with the rest of the world while adjustment costs are only slightly higher, partly reflecting the absence of trade diversion with global liberalization. We show what are the key modeling assumptions and parameter choices that affect the estimates in models of this type, employing systematic sensitivity analysis as well as graphical exposition.

Suggested Citation

  • Thomas F. Rutherford & E. Elisabet Rutstrom & David Tarr, 2014. "Morocco's free trade agreement with the EU: A quantitative assessment," World Scientific Book Chapters, in: APPLIED TRADE POLICY MODELING IN 16 COUNTRIES Insights and Impacts from World Bank CGE Based Projects, chapter 17, pages 405-437, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814551434_0017
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    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General

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