Welfare Changes and Sectoral Adjustments of Asia-Pacific Countries under Alternative Sequencings of Free Trade Agreements

Ken Itakura and Hiro Lee

No 12E005, OSIPP Discussion Paper from Osaka School of International Public Policy, Osaka University

Abstract: In this paper we compare welfare effects and the extent of sectoral adjustments of the member countries under alternative free trade agreement (FTA) sequencings in the Asia-Pacific region using a dynamic computable general equilibrium (CGE) model. If a Trans-Pacific Partnership (TPP) agreement under one sequencing and an East Asian FTA (EAFTA) under another sequencing will enter into force at the same time, followed by more enlarged FTAs, then a larger number of countries are expected to realize greater welfare gains under the Asia-track sequencing. However, given the uncertainty about the establishment of an Asia-wide FTA in the near future, the TPP-track sequencing appears to be an attractive option for most countries in the Asia-Pacific region. With respect to sectoral adjustments, there seem to be no significant differences among the alternative sequencings.

Keywords: Sequencing; FTA; Asia-Pacific; CGE model (search for similar items in EconPapers)
JEL-codes: F15 F17 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2012-03
New Economics Papers: this item is included in nep-cmp, nep-int and nep-sea
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Citations: View citations in EconPapers (26)

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Related works:
Journal Article: WELFARE CHANGES AND SECTORAL ADJUSTMENTS OF ASIA-PACIFIC COUNTRIES UNDER ALTERNATIVE SEQUENCINGS OF FREE TRADE AGREEMENTS (2012)
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