GTAP Resources: Resource Display
| GTAP Resource #718 |
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"Political Feasibility and Empirical Assessments of a Pacific Free Trade Area" by Lee, Hiro and Brian Woodall Abstract The realization for establishing an East Asian or a Pacific free trade agreement demands the resolution of transnational as well as domestic political difficulties. Even though every country in the East Asian region would stand to benefit, our empirical results suggest that the formation of an East Asian trading bloc may be difficult to realize. A major consideration is the possibility of American retaliation, which, if it led to trans-Pacific trade war, would impose substantial welfare losses on the East Asian countries. In the event that a Pacific free trade area were to be created, every member country, with the exception of Mexico, would realize aggregate welfare gains. In fact, creation of a Pacific free trade area promises to produce global welfare gains almost four times greater than would be the case with an East Asian trading bloc. However, even greater welfare gains would be realized in the event that the APEC countries were to opt for nondiscriminatory liberalization. |
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Public Access  GTAP Resource 718 (147.0 KB) Replicated: 0 time(s)Restricted Access No documents have been attached. Special Instructions No instruction supplied |
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Last Modified: 9/15/2023 1:05:45 PM
