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A Comparison Study on ASEAN-Japan and ASEAN-Korea Free Trade Agreements using CGE Model

Tsung-Chen Lee (Correspondnce Author) (), Shiao-Wei Lo () and Wen-Cheng Lin ()
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Tsung-Chen Lee (Correspondnce Author): Faculty of Department of Economics, National Taipei University 151 University Road, Sanshia District, New Taipei City 237, TAIWAN
Shiao-Wei Lo: Department of Economics, National Taipei University, 151 University Road, Sanshia District, New Taipei City 237, TAIWAN
Wen-Cheng Lin: Department of Economics, National Taipei University 151 University Road, Sanshia District, New Taipei City 237, TAIWAN

Review of Economics & Finance, 2017, vol. 8, 79-95

Abstract: This study compares the economy-wide impacts of the ASEAN-Japan and ASEANKorea free trade agreements (FTAs) by conducting a computable general equilibrium (CGE) analysis with highlighting the role of labor market specification. The ASEAN, Japan and Korea are shown to have more significant real GDP growth under the simulation scenarios of unemployment and perfect labor mobility. The associated benefits of FTAs, in terms of economic growth and the reduction in unemployment, are more significant in Japan and Korea than in the ASEAN. Finally, the ASEAN would experience higher increase in the employment of unskilled labor in the FTA with Korea, while Korea would see a higher increase in the employment of skilled labor.

Keywords: Trade liberalization; Labor market; Computable general equilibrium; ASEAN; Global trade analysis project (search for similar items in EconPapers)
JEL-codes: D58 F16 J64 (search for similar items in EconPapers)
Date: 2017
Note: This research is funded by Ministry of Science and Technology of Taiwan, Project No. NSC 102-2410-H-305-055.
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