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The Macro and Sectoral Significance of an FTAAP

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  • KAWASAKI Kenichi

Abstract

This paper discusses the relative significance of a Free Trade Area of the Asia-Pacific (FTAAP) at the macro and sectoral levels. The impacts of trade liberalization and facilitation measures in an FTAAP are studied using a Computable General Equilibrium (CGE) model of global trade. The dynamic aspects of capital formation and productivity improvements are incorporated into a standard static model based on the most updated version of a global trade database. Real GDP of the APEC economies will be boosted on average by 1.9 percent by trade liberalization measures and 0.4 percent by trade facilitation measures, respectively. However, because of differences in the trade structure of the economies, the relative macroeconomic benefits of the economies from several regional trade agreements are shown to differ largely. Moreover, the relative significance of negative impacts in sensitive sectors such as agriculture may also vary according to several scenarios of trade liberalization.

Suggested Citation

  • KAWASAKI Kenichi, 2010. "The Macro and Sectoral Significance of an FTAAP," ESRI Discussion paper series 244, Economic and Social Research Institute (ESRI).
    • Handle: RePEc:esj:esridp:244
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    1. Itakura, Ken & Hertel, Thomas & Jeff Reimer, 2003. "The Contribution of Productivity Linkages to the General Equilibrium Analysis of Free Trade Agreements," GTAP Working Papers 1193, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University.
    2. Itakura, Ken & Hertel, Thomas & Jeff Reimer, 2003. "The Contribution of Productivity Linkages to the General Equilibrium Analysis of Free Trade Agreements," GTAP Working Papers 1193, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University.
    3. 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.
    4. Francois, Joseph & Bradley McDonald, 1996. "Liberalization and Capital Accumulation in the GTAP Model," GTAP Technical Papers 310, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University.
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