TOWARDS OIC ECONOMIC COOPERATION: IMPACT OF DEVELOPING 8 (D-8) PREFERENTIAL TRADE AGREEMENT

Jamal Othman, Mustafa Acar and Yaghoob Jafari
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Mustafa Acar: Department of Economics, Kirikkale University and Aksaray University, 68100 Aksaray, Turkey
Yaghoob Jafari: School of Economics, Faculty of Economics and Business, National University of Malaysia, 46000 BANGI, Malaysia

The Singapore Economic Review (SER), 2013, vol. 58, issue 02, 1-18

Abstract: The Developing 8 (D-8) comprises of eight developing countries (Turkey, Malaysia, Indonesia, Bangladesh, Pakistan, Iran, Egypt and Nigeria), all of which are OIC members with large Muslim populations. The D-8 has formed a freer trade alliance with the objectives to create new opportunities and enhance intra-trade relations while providing better standards of living for its citizens. This paper examines the trade impact of possible trade liberalization among the D-8 countries using a multi-country computable general equilibrium model, i.e., GTAP. Results indicate that while the D-8 intra-trade is expected to increase very substantially, not all member countries will experience a welfare gain under a free trade arrangement. Likewise, the impact on economic sectors differs substantially across countries.

Keywords: Developing 8; organization of Islamic countries; trade liberalization; preferential trade arrangement; economic integration; GTAP; F15; F17; F13 (search for similar items in EconPapers)
Date: 2013
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DOI: 10.1142/S0217590813500094

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