TRADE LIBERALIZATION IN TRINIDAD AND TOBAGO: REDUCING THE COMMON EXTERNAL TARIFF

Naira Kazarian and Glenn C.W. Ames

No 16723, Faculty Series from University of Georgia, Department of Agricultural and Applied Economics

Abstract: A two-sector, three-good model, developed by S. Devarajan et al. at the World Bank was used to analyze trade liberalization in Trinidad and Tobago as an example of the country's new open economy policy. A 20% reduction in T&T's import tariff rate resulted in increased import volume, overall decline in consumer prices, investment level, tax revenue and government savings, and a positive growth in overall consumption.

Keywords: International; Relations/Trade (search for similar items in EconPapers)
Pages: 14
Date: 2000
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:ugeofs:16723

DOI: 10.22004/ag.econ.16723

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