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Impact of Liberalization and Improved Connectivity and Facilitation in ASEAN

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  • Itakura, Ken

Abstract

This study attempts to evaluate the potential economic effects of liberalization and improved connectivity and facilitation of trade in goods and services among the ASEAN member states (AMSs) by applying economy-wide simulation analysis based on a recursively dynamic computable general equilibrium (CGE) model. We conduct a set of simulations to capture the effects of establishing free trade agreements (FTAs) in which the AMSs participate. Three key components affecting the impacts of FTAs are reduction of tariffs on goods, lowering of barriers to trade in services, and saving time-costs arising from logistics. Simulation results revealed that reducing trade barriers has a significantly positive impact on economic welfare. Although there are differences in the magnitude of positive contributions to welfare, all of the FTAs in which the AMSs participate tend to raise welfare. Among the FTAs examined in this study, the Regional Comprehensive Economic Partnership (RCEP) leads to the largest positive effects on real GDP for most of the AMSs.

Suggested Citation

  • Itakura, Ken, 2014. "Impact of Liberalization and Improved Connectivity and Facilitation in ASEAN," Conference papers 332499, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    • Handle: RePEc:ags:pugtwp:332499
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