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General equilibrium assessments of trade liberalization in APEC countries

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  • Lee, Hiro
  • Roland-Holst, David
  • van der Mensbrugghe, Dominique

Abstract

At the turn of this millennium, most the APEC countries have embarked upon an ambitious plan for open multilateralism. Using an 18-region, 16-sector dynamic computable general equilibrium (CGE) model of the global economy, we evaluate the effects of APEC trade liberalization on member-country real GDP, sectoral output, exports and imports by the year 2020. The results suggest that developing members would be able to realize significantly greater gains in real GDP than developed members. Although the adjustments may be difficult for some groups, they are necessary if each member economy and the region as a whole are to realize the full economic potential. In addition, speeding up the liberalization process would be good First Aid for the East Asian economies that are currently experiencing economic crisis.

Suggested Citation

  • Lee, Hiro & Roland-Holst, David & van der Mensbrugghe, Dominique, 2001. "General equilibrium assessments of trade liberalization in APEC countries," MPRA Paper 82290, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:82290
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    References listed on IDEAS

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    1. Lewis, Jeffrey D. & Robinson, Sherman & Wang, Zhi, 1995. "Beyond the Uruguay Round: The implications of an Asian free trade area," China Economic Review, Elsevier, vol. 6(1), pages 35-90.
    2. Terrie L. Walmsley, 1999. "Incorporating International Capital Ownership into the GTAP Model: Results for Asia-Pacific Trade Liberalisation," Centre of Policy Studies/IMPACT Centre Working Papers ip-72, Victoria University, Centre of Policy Studies/IMPACT Centre.
    3. Brown, Drusilla K. & Deardorff, Alan V. & Stern, Robert M., 1996. "Computational Analysis of the Economic Effects of an East Asian Preferential Trading Bloc," Journal of the Japanese and International Economies, Elsevier, vol. 10(1), pages 37-70, March.
    4. Ippei YAMAZAWA, 1996. "APEC's NEW DEVELOPMENT AND ITS IMPLICATIONS FOR NONMEMBER DEVELOPING COUNTRIES," The Developing Economies, Institute of Developing Economies, vol. 34(2), pages 134-137, June.
    5. 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.
    6. 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.
    7. Martin,Will & Winters,L. Alan (ed.), 1996. "The Uruguay Round and the Developing Countries," Cambridge Books, Cambridge University Press, number 9780521586016.
    8. Lee, Hiro & Woodall, Brian, 1998. "Political feasibility and empirical assessments of a Pacific free trade area," MPRA Paper 82340, University Library of Munich, Germany.
    9. Lee,Hiro & Roland-Holst,David W. (ed.), 1998. "Economic Development and Cooperation in the Pacific Basin," Cambridge Books, Cambridge University Press, number 9780521583664.
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    Cited by:

    1. Haider A. Khan, 2007. "Trade Liberalization and Poverty Reduction in General Equilibrium: The Role of Labor Market Structure," CIRJE F-Series CIRJE-F-462, CIRJE, Faculty of Economics, University of Tokyo.
    2. Lee, Hiro, 2001. "General equilibrium evaluation of Japan-Singapore free trade agreement," MPRA Paper 82605, University Library of Munich, Germany.
    3. Lee, Hiro & Roland-Holst, David & van der Mensbrugghe, Dominique, 2002. "Emergent trilateralism in the Pacific Basin: How should China, Japan, and the United States respond to regional trade initiatives?," MPRA Paper 82606, University Library of Munich, Germany.
    4. Chae‐Deug Yi, 2022. "Economic impacts of UK's free trade agreements with Korea, Japan, and EU as a breakthrough of Brexit," Manchester School, University of Manchester, vol. 90(5), pages 541-564, September.
    5. Chae‐Deug Yi, 2023. "The economic and trade effects of the UK–Korea free trade agreement on the United Kingdom, Korea, Japan, China, and the European Union," Bulletin of Economic Research, Wiley Blackwell, vol. 75(2), pages 227-253, April.

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    More about this item

    Keywords

    APEC; trade liberalization; CGE model;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F15 - International Economics - - Trade - - - Economic Integration

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