The Economic Impact of Deepening Trade Agreements

• Tác giả: Lionel Fontagné
• Ngôn ngữ: eng
• Ký hiệu phân loại: 338.9 Economic development and growth
• Thông tin xuất bản: Published by Oxford University Press on behalf of the World Bank, 2024
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 329524
• Chủ đề: 1. DEEP INTEGRATION; 2. GENERAL EQUILIBRIUM; 3. PREFERENTIAL TRADE AGREEMENTS; 4. STRUCTURAL INTEGRITY

Tóm tắt

This paper explores the economic impacts of preferential trade agreements, conditional on their level of ambition. It clusters 278 agreements, encompassing 910 provisions over 18 policy areas and estimates the trade elasticity for the different clusters. These elasticities are used in a series of general-equilibrium counterfactual situations for endowment economies, revealing that deepening existing agreements (the intensive margin of regional integration) could boost world trade by 3.9 percent and world GDP by 0.9 percent. The expected gains from deepening agreements within or across regions vary depending on the initial depth of agreements and the size of regional markets.