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Languages : en
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Languages : en
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Author: Thomas F. Rutherford, David G. Tarr, Jesper Jensen, Edward J. Balistreri
Publisher: World Bank Publications
ISBN:
Category : Free trade
Languages : en
Pages : 46
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"This paper employs a 52-sector, small, open-economy computable general equilibrium model of the Tanzanian economy to assess the impact of the liberalization of regulatory barriers against foreign and domestic business service providers in Tanzania. The model incorporates productivity effects in both goods and services markets endogenously, through a Dixit-Stiglitz framework. It summarizes policy notes on the key business service sectors that were prepared for this work, and estimates the ad valorem equivalent of barriers to foreign direct investment based on these policy notes and detailed questionnaires completed by specialists in Tanzania. The authors estimate that Tanzania will gain about 5.3 percent of the value of Tanzanian consumption in the medium run (or about 4.8 percent of gross domestic product) from a full reform package that also includes uniform tariffs. The estimated gains increase to about 16 percent of consumption in the long-run, steady-state model, where the impact on the accumulation of capital from an improvement in the productivity of capital is taken into account. Decomposition exercises reveal that the largest gains to Tanzania will derive from liberalization of costly regulatory barriers that are non-discriminatory in their impacts between Tanzanian and multinational service providers. "--World Bank web site.
Author: E. Tani Fukui
Publisher:
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Category :
Languages : en
Pages : 23
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The services sector is the next frontier in trade liberalization, and progress in this area is likely to bring enormous economic gain to developed and developing economies. A major impediment to its liberalization, however, is the lack of rigorous analytical work on the potential impact of services trade liberalization. Our aim in this paper is to propel the policy relevant research forward. Restrictions to services trade are far more complex than those on goods. While goods trade liberalization is relatively straightforward to model and its implications are fairly well understood, the same is not true for services. Services trade policy is often opaque and does not fit easily into computational models. Our survey of the current literature reveals a set of stylized facts that we hope will be useful in this area of computable general equilibrium modeling research: (1) barriers to trade in services are complex and heterogeneous across sectors; (2) services have significant effects on downstream industries; (3) market structure assumptions are crucial; (4) foreign presence is often necessary for services trade, and (5) many barriers are entry or fixed cost barriers that restrict foreign and domestic new entrants.
Author: David G. Tarr
Publisher: World Bank Publications
ISBN:
Category : Air
Languages : en
Pages : 46
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This paper employs a 55 sector small open economy computable general equilibrium model of the Kenyan economy to assess the impact of the liberalization of regulatory barriers against foreign and domestic business service providers in Kenya. The model incorporates foreign direct investment in business services and productivity effects in imperfectly competitive goods and services markets endogenously, through a Dixit-Stiglitz framework. The ad valorem equivalent of barriers to foreign direct investment have been estimated based on detailed questionnaires completed by specialists in Kenya. We estimate very substantial gains to Kenya from regulatory liberalization in business services, and additional gains from uniform tariffs. The estimated gains increase to 50% of consumption in the long run steady state model, where the impact on the accumulation of capital from an improvement in the productivity of capital is taken into account. Decomposition exercises reveal that the largest gains to Kenya will derive from liberalization of costly regulatory barriers that are non-discriminatory in their impacts between Kenyan and multinational service providers.
Author: Drusilla K. Brown
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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We examine the importance of various characteristics of services for the modelling of the effects of trade liberalization in services. We consider first the characteristics that our own computable general equilibrium (CGE) modelling framework has been designed to address: variety, scale, and competition. Modifying it somewhat so as to distinguish the separate roles of these characteristics, we find the characteristics to be relatively unimportant for the conclusions that one reaches about the effects of trade liberalization on the economy. We then consider other characteristics that may distinguish services from goods, and ask whether these also need to be taken into account in such modelling exercises. With one exception we conclude that these characteristics are unlikely to play an important role in future models of trade liberalization. The one exception is a characteristic identified by Ethier and Horn (1991), who saw producers of services as specializing their products to the particular needs of their customers. While it does not seem feasible at this time to incorporate this feature into a manageable CGE framework, we believe that it could have interesting and important implications for our understanding of the effects of trade liberalization if it were ever done.
Author: David G Tarr
Publisher: World Scientific
ISBN: 9814551449
Category : Political Science
Languages : en
Pages : 548
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Book Description
This book focuses on the World Bank projects, led by the author, based on computable general equilibrium models of international trade policy. The chapters show an unusual combination of policy relevance, advice and impact, with academic rigor and international trade theory insights. The author discusses some of the policy contexts for the requests from developing and transition countries to the World Bank, the key trade theory or policy insights, policy recommendations and conclusions, and the policy impacts.
Author: Jesper Jensen
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This paper employs a 52-sector, small, open-economy computable general equilibrium model of the Tanzanian economy to assess the impact of the liberalization of regulatory barriers against foreign and domestic business service providers in Tanzania. The model incorporates productivity effects in both goods and services markets endogenously, through a Dixit-Stiglitz framework. It summarizes policy notes on the key business service sectors that were prepared for this work, and estimates the ad valorem equivalent of barriers to foreign direct investment based on these policy notes and detailed questionnaires completed by specialists in Tanzania. The authors estimate that Tanzania will gain about 5.3 percent of the value of Tanzanian consumption in the medium run (or about 4.8 percent of gross domestic product) from a full reform package that also includes uniform tariffs. The estimated gains increase to about 16 percent of consumption in the long-run, steady-state model, where the impact on the accumulation of capital from an improvement in the productivity of capital is taken into account. Decomposition exercises reveal that the largest gains to Tanzania will derive from liberalization of costly regulatory barriers that are non-discriminatory in their impacts between Tanzanian and multinational service providers.
Author: Brown, Drusilla K.
Publisher:
ISBN:
Category :
Languages : en
Pages : 28
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Author: Denise Eby Konan
Publisher: World Bank Publications
ISBN:
Category : Free trade
Languages : en
Pages : 31
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Book Description
The authors consider how service liberalization differs from goods liberalization in terms of welfare, the level and composition of output, and factor prices within a developing economy, in this case Tunisia. Despite recent movements toward liberalization, Tunisian service sectors remain largely closed to foreign participation and are provided at high cost relative to many developing nations. The authors develop a computable general equilibrium (CGE) model of the Tunisian economy with multiple products and services and three trading partners. They model goods liberalization as the unilateral removal of product tariffs. Restraints on services trade involve both restrictions on cross-border supply (mode 1 in the GATS) and on foreign ownership through foreign direct investment (mode 3 in the GATS). The former are modeled as tariff-equivalent price wedges while the latter are comprised of both monopoly-rent distortions (arising from imperfect competition among domestic producers) and inefficiency costs (arising from a failure of domestic service providers to adopt least-cost practices). They find that goods-trade liberalization yields a gain in aggregate welfare and reorients production toward sectors of benchmark comparative advantage. However, a reduction of services barriers in a way that permits greater competition through foreign direct investment generates larger welfare gains. Service liberalization also requires lower adjustment costs, measured in terms of sectoral movement of workers, than does goods-trade liberalization. And it tends to increase economic activity in all sectors and raise the real returns to both capital and labor. The overall welfare gains of comprehensive service liberalization amount to more than 5 percent of initial consumption. The bulk of these gains come from opening markets for finance, business services, and telecommunications. Because these are key inputs into all sectors of the economy, their liberalization cuts costs and drives larger efficiency gains overall. The results point to the potential importance of deregulating services provision for economic development.
Author: Aidan Islyami
Publisher: Sudwestdeutscher Verlag Fur Hochschulschriften AG
ISBN: 9783838134611
Category : Developing countries
Languages : en
Pages : 184
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Book Description
This dissertation studies the impact of services trade liberalization as well as the determinants of investments in services in developing countries. It focuses on producer and distribution services and studies the ways of economic modeling of features specific to those sectors.
