Economic Integration, Market Structure, and Growth Dynamics: Implications for Morocco's Free Trade Agreement with the European Union

Aziz Elbehri and Thomas Hertel

No 330888, Conference papers from Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project

Abstract: In this paper, some major modifications are made to the existing GTAP structure and database to incorporate a long-run closure in which income earned on endowment commodities accrues to the owners of those endowments. This closure assumes that in the long run all economies grow at a common steady-state rate. In order to ensure valid comparative statics a steady-state database is created in which all economies grow at this common steady-state rate. Once these modifications have been made, the long-run effects of Asia-Pacific trade liberalisation are simulated. It is found that foreign ownership of assets does have a significant effect on the projected outcome of Asia-Pacific trade liberalisation.

Keywords: International Relations/Trade; International Development (search for similar items in EconPapers)
Pages: 10
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:ags:pugtwp:330888

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