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The Impact of Trade Liberalisation on Jobs and Growth: Technical Note

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Abstract

This report shows how more open markets in goods and services can contribute to creating jobs and increase incomes. Reducing tariffs and non-tariff barriers can help in the short run where the economic crisis has led to significant involuntary unemployment by reducing costs of imported products for consumers and by providing new market opportunities for exporters. Taking a longer term view of a more healthy global economy, lasting gains can be found from reallocation of resources across sector and from productivity growth. Reducing barriers to foreign direct investment in services is found to particularly increase demand for higher skilled labour, while the offshoring of services is not found to shift jobs abroad. The report presents in detail new results based on two large scale global computable general equilibrium models, one for goods and one for services, using novel approaches to assess the effects of reducing trade costs related to non-tariff measures, and to assess the effects of regulatory impediments to foreign direct investment in services. The analysis disentangles the effects of actions that the G20 economies could take from the potential effects of global tariff liberalisation efforts in which all countries would participate.

Suggested Citation

  • Oecd, 2011. "The Impact of Trade Liberalisation on Jobs and Growth: Technical Note," OECD Trade Policy Papers 107, OECD Publishing.
    • Handle: RePEc:oec:traaab:107-en
    DOI: 10.1787/5kgj4jfj1nq2-en
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    Citations

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    Cited by:

    1. Elisabeth M. Christen & Joseph Francois & Bernard Hoekman, 2012. "CGE Modeling of Market Access in Services," Economics working papers 2012-08, Department of Economics, Johannes Kepler University Linz, Austria.
    2. Gyasi, Genevieve, 2020. "The Impact of Trade Agreement Policy on Employment," MPRA Paper 101307, University Library of Munich, Germany.
    3. Christen, Elisabeth & Francois, Joseph & Hoekman, Bernard, 2013. "Computable General Equilibrium Modeling of Market Access in Services," Handbook of Computable General Equilibrium Modeling, in: Peter B. Dixon & Dale Jorgenson (ed.), Handbook of Computable General Equilibrium Modeling, edition 1, volume 1, chapter 0, pages 1601-1643, Elsevier.
    4. Joseph Francois & Olga Pindyuk, 2013. "Modeling the Effects of Free Trade Agreements between the EU and Canada, USA and Moldova/Georgia/Armenia on the Austrian Economy: Model Simulations for Trade Policy Analysis," FIW Research Reports series IV-003, FIW.
    5. Hertel, Thomas, 2013. "Global Applied General Equilibrium Analysis Using the Global Trade Analysis Project Framework," Handbook of Computable General Equilibrium Modeling, in: Peter B. Dixon & Dale Jorgenson (ed.), Handbook of Computable General Equilibrium Modeling, edition 1, volume 1, chapter 0, pages 815-876, Elsevier.
    6. Joseph Francois & Miriam Manchin & Patrick Tomberger, 2015. "Services Linkages and the Value Added Content of Trade," The World Economy, Wiley Blackwell, vol. 38(11), pages 1631-1649, November.

    More about this item

    Keywords

    foreign direct investment; general equilibrium models; global economy; non-tariff measures; services; trade liberalisation;
    All these keywords.

    JEL classification:

    • F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance

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