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General and partial equilibrium analysis of the impact of the Central America Free Trade Agreement on the U.S. rice sector

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  • Durand-Morat, Alvaro
  • Wailes, Eric J.

Abstract

The market conditions proposed by CAFTA are likely to positively impact the U.S. rice sector. Despite the differences in the impact of the agreement, both analytical approaches, namely, partial and general equilibrium modeling, yield results in the same direction. The small difference in the results from both approaches suggests low income and cross-sectoral effects between the U.S. rice sector and other segments of the economy. U.S. rice production is likely to expand to meet an increasing international demand for this commodity. The U.S. rice milling industry should also expect benefits from CAFTA, expanding by 1 percent in the general equilibrium model and up to 8 percent in the partial equilibrium framework.

Suggested Citation

  • Durand-Morat, Alvaro & Wailes, Eric J., 2005. "General and partial equilibrium analysis of the impact of the Central America Free Trade Agreement on the U.S. rice sector," 2005 Annual meeting, July 24-27, Providence, RI 19238, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea05:19238
    DOI: 10.22004/ag.econ.19238
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    References listed on IDEAS

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    1. Elbehri, Aziz & Ken Pearson, 2000. "Implementing Bilateral Tariff Rate Quotas in GTAP using GEMPACK," GTAP Technical Papers 475, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University.
    2. Hertel, Thomas, 1997. "Global Trade Analysis: Modeling and applications," GTAP Books, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University, number 7685, December.
    3. Daniel A. Sumner & Frank H. Buck & Hyunok Lee, 2000. "Assessing the Effects of the WTO Agreement on Rice Markets: What can We Learn from the First Five Years?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(3), pages 709-717.
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    Cited by:

    1. Brockmeier, Martina & Bektasoglu, Beyhan, 2014. "Model structure or data aggregation level: Which leads to greater bias of results?," Economic Modelling, Elsevier, vol. 38(C), pages 238-245.

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