The relative significance of EPAs in Asia-Pacific

Kenichi Kawasaki

Journal of Asian Economics, 2015, vol. 39, issue C, 19-30

Abstract: This paper analyzes the relative significance of regional Economic Partnership Agreements (EPAs) in Asia-Pacific. The economy-wide impacts of tariff removals and reductions in non-tariff measures (NTMs) are estimated by using a Computable General Equilibrium (CGE) model of global trade. The Trans-Pacific Partnership (TPP) and Regional Comprehensive Economic Partnership (RCEP) are shown to complement each other rather than be competitors. The income gains of Asia-Pacific Economic Cooperation (APEC) economies as a whole account for 1.2% of regional GDP by the TPP, 2.1% by the RCEP, and 4.3% by the Free Trade Area of the Asia-Pacific (FTAAP). Meanwhile, larger economic benefits are expected from NTMs reductions in addition to tariff removals. It is thus essential to reform domestic markets in order to enjoy greater economic benefits from international EPAs.

Keywords: TPP; RCEP; FTAAP; CGE model (search for similar items in EconPapers)
JEL-codes: D58 F13 F15 F17 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (15)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:asieco:v:39:y:2015:i:c:p:19-30

DOI: 10.1016/j.asieco.2015.05.001

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