Welfare and Structural Adjustment Implications of Asian Track and Trans-Pacific Track Sequencings of FTAs

Ken Itakura and Hiro Lee

No 332175, Conference papers from Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project

Abstract: In this paper we compare welfare effects and the extent of sectoral adjustments of the member countries under alternative free trade agreement (FTA) sequencings in the AsiaPacific region using a dynamic computable general equilibrium (CGE) model. If a TransPacific Partnership (TPP) agreement under one sequencing and an East Asian FTA (EAFTA) under another sequencing will enter into force at the same time, followed by more enlarged FTAs, then a larger number of countries are expected to realize greater welfare gains under the Asian-track sequencing. However, given the uncertainty about the establishment of an Asia-wide FTA in the near future, the TPP-track sequencing appears to be an attractive option for most countries in the Asia-Pacific region. With respect to sectoral adjustments, there seem to be no significant differences among the alternative sequencings considered in this study.

Keywords: International Relations/Trade; Research Methods/ Statistical Methods (search for similar items in EconPapers)
Pages: 26
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:ags:pugtwp:332175

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