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The Benefits of Liberalising Product Markets and Reducing Barriers to International Trade and Investment in the OECD

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  • OECD
Abstract
This paper provides an assessment of the impact of a package of structural reforms in all OECD countries on their long-run trade and output gains. The package includes reforms that reduce competition-restraining regulations, cut tariff barriers and ease restrictions on foreign direct investment to “best practice” levels in the OECD area. The analysis, which is based on earlier OECD studies, indicates that such reforms could lead to gains in GDP per capita in OECD countries of up to 4 to 5 per cent. As the analysis is confined to a relatively narrow set of policies and abstracts from potential dynamic effects from reform-induced increases in innovation, the overall gains from broad reforms could be significantly higher than reported in the paper. Les bénéfices de la libéralisation des marchés de produits et de la réduction des barrières aux échanges et aux investissements internationaux dans les pays de l'OCDE Ce document offre une évaluation des réformes globales structurelles dans tous les pays de l'OCDE sur les échanges et la croissance de long terme. Ces réformes incluent l’ensemble des mesures politiques visant la réduction de la réglementation anti-compétitive, la baisse des barrières tarifaires et des restrictions sur les investissements directs étrangers vers les «meilleures pratiques» observées au sein des pays de l’OCDE. L’analyse, qui s’appuie sur de précédents travaux de l’OCDE, montre que de telles réformes peuvent conduire à une augmentation du PIB par habitant entre 4 et 5 pour cent dans les pays de l'OCDE. Étant donné que l’analyse ne couvre qu’un nombre de mesures spécifiques et exclut les effets dynamiques potentiels de l’innovation, les bénéfices tirés d’un ensemble de réformes beaucoup plus large pourraient bien être plus élevés que ceux reportés dans ce document.

Suggested Citation

  • Oecd, 2005. "The Benefits of Liberalising Product Markets and Reducing Barriers to International Trade and Investment in the OECD," OECD Economics Department Working Papers 463, OECD Publishing.
    • Handle: RePEc:oec:ecoaaa:463-en
    DOI: 10.1787/680335231342
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    Citations

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    Cited by:

    1. Chen, Yu-Fu & Funke, Michael, 2008. "Product market competition, investment and employment-abundant versus job-poor growth: A real options perspective," European Journal of Political Economy, Elsevier, vol. 24(1), pages 218-238, March.
    2. Bas Postema & Marie Goppelsroeder & Peter AG van Bergeijk, 2006. "Cost and Benefits of Merger Control: An Applied Game Theoretic Perspective," Kyklos, Wiley Blackwell, vol. 59(1), pages 85-98, February.
    3. de Bandt, O. & Vigna, O., 2008. "The macroeconomic impact of structural reforms," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 11, pages 5-32, Spring.
    4. Bernard Hoekman, 2015. "Trade Agreements and International Regulatory Cooperation in a Supply Chain World," RSCAS Working Papers 2015/04, European University Institute.
    5. repec:ces:ifodic:v:4:y:2006:i:2:p:14567502 is not listed on IDEAS
    6. Buongiorno, Joseph & Rougieux, Paul & Barkaoui, Ahmed & Zhu, Shushuai & Harou, Patrice, 2014. "Potential impact of a Transatlantic Trade and Investment Partnership on the global forest sector," Journal of Forest Economics, Elsevier, vol. 20(3), pages 252-266.
    7. Hans Pitlik & Margit Schratzenstaller-Altzinger, 2011. "Growth Implications of Structure and Size of Public Sectors," WIFO Working Papers 404, WIFO.
    8. Åsa Johansson & Eduardo Olaberría, 2014. "Long-term Patterns of Trade and Specialisation," OECD Economics Department Working Papers 1136, OECD Publishing.
    9. Annette Bongardt* & Francisco Torres**, 2007. "Institutions, Governance and Economic Growth in the EU: Is There a Role for the Lisbon Strategy?," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 42(1), pages 32-42, January.
    10. Ulrik Stridbaek, 2006. "Lessons from Liberalised Electricity Markets," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 4(02), pages 24-29, July.
    11. Francisco Torres & Annette Bongardt, 2007. "Is the ‘European Model’ viable in a globalized world?," NIPE Working Papers 20/2007, NIPE - Universidade do Minho.
    12. Åsa Johansson & Eduardo Olaberría, 2014. "Global Trade and Specialisation Patterns Over the Next 50 Years," OECD Economic Policy Papers 10, OECD Publishing.

    More about this item

    Keywords

    commerce international; croissance et productivité; foreign direct investment; growth and productivity; international trade; investissement direct étranger; regulation; réglementation;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • K2 - Law and Economics - - Regulation and Business Law
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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