General equilibrium assessments of trade liberalization in APEC countries

Hiro Lee, David Roland-Holst and Dominique van der Mensbrugghe ()

MPRA Paper from University Library of Munich, Germany

Abstract: At the turn of this millennium, most the APEC countries have embarked upon an ambitious plan for open multilateralism. Using an 18-region, 16-sector dynamic computable general equilibrium (CGE) model of the global economy, we evaluate the effects of APEC trade liberalization on member-country real GDP, sectoral output, exports and imports by the year 2020. The results suggest that developing members would be able to realize significantly greater gains in real GDP than developed members. Although the adjustments may be difficult for some groups, they are necessary if each member economy and the region as a whole are to realize the full economic potential. In addition, speeding up the liberalization process would be good First Aid for the East Asian economies that are currently experiencing economic crisis.

Keywords: APEC; trade liberalization; CGE model (search for similar items in EconPapers)
JEL-codes: F13 F14 F15 (search for similar items in EconPapers)
Date: 2001-11
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Citations: View citations in EconPapers (5)

Published in In: J. Behrman et al. (eds.), Restructuring Asian Economies for the New Millennium, Volume 9B (2001): pp. 719-742

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Related works:
Working Paper: General Equilibrium Assessments of Trade Liberalization in APEC Countries (1999)
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