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Economic Impact of Freer Trade in Latin America and the Caribbean: A GTAP Analysis

Kakali Mukhopadhyay, Paul J. Thomassin and Debesh Chakraborty

Latin American Journal of Economics-formerly Cuadernos de Economía, 2012, vol. 49, issue 2, 147-183

Abstract: The recent worldwide economic conditions resulting from the financial crisis call for greater cooperation. This paper assesses the impact of trade reforms between Latin America and the Caribbean (LAC) and India and LAC and the EU (European Union) at 2020 using a global computable general equilibrium (CGE) model. The findings show that LAC-EU tariff reduction appears to be beneficial for both regions in the short run, though not so in the long run, while the LAC-India tariff reduction impact appears to be more beneficial for both economies in the long run. This important finding emphasizes the scope and opportunities for south-south cooperation in the long run.

Keywords: Latin America and the Caribbean; European Union; India; Global Trade Analysis Project (GTAP) (search for similar items in EconPapers)
JEL-codes: F15 F18 C68 (search for similar items in EconPapers)
Date: 2012
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Latin American Journal of Economics-formerly Cuadernos de Economía is currently edited by Raimundo Soto

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