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Incorporating International Capital Ownership into the GTAP Model: Results for Asia-Pacific Trade Liberalisation

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  • Walmsley, Terrie Louise

Abstract

In this paper, some major modifications are made to the existing GTAP structure and database to incorporate a long-run closure in which income earned on endowment commodities accrues to the owners of those endowments. This closure assumes that in the long run all economies grow at a common steady-state rate. In order to ensure valid comparative statics a steady-state database is created in which all economies grow at this common steady-state rate. Once these modifications have been made, the long-run effects of Asia-Pacific trade liberalisation are simulated. It is found that foreign ownership of assets does have a significant effect on the projected outcome of Asia-Pacific trade liberalisation.

Suggested Citation

  • Walmsley, Terrie Louise, 1999. "Incorporating International Capital Ownership into the GTAP Model: Results for Asia-Pacific Trade Liberalisation," Conference papers 330886, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    • Handle: RePEc:ags:pugtwp:330886
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    File URL: https://ageconsearch.umn.edu/record/330886/files/2456.pdf
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    Cited by:

    1. Hiro Lee & Dominique van der Mensbrugghe, 2001. "A General Equilibrium Analysis of the Interplay between Foreign Direct Investment and Trade Adjustments," Discussion Paper Series 119, Research Institute for Economics & Business Administration, Kobe University, revised Jul 2001.
    2. Nigel Grimwade & David G. Mayes & Jiao Wang, 2011. "Estimating the Effects of Integration," Chapters, in: Miroslav N. Jovanović (ed.), International Handbook on the Economics of Integration, Volume III, chapter 13, Edward Elgar Publishing.
    3. Hiro Lee & David Roland-Holst & Dominique van der Mensbrugghe, 1999. "General Equilibrium Assessments of Trade Liberalization in APEC Countries," Discussion Paper Series 103, Research Institute for Economics & Business Administration, Kobe University.
    4. Elbehri, Aziz & Leetmaa, Susan, 2002. "How significant are export subsidies to agricultural trade? Trade and welfare implications of global reforms," Conference papers 330999, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.

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