The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model PDF full book. Access full book title The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model by Mr.Lisandro Abrego. Download full books in PDF and EPUB format.
Author: Mr.Lisandro Abrego
Publisher: International Monetary Fund
ISBN: 1498314392
Category : Business & Economics
Languages : en
Pages : 32
Get Book Here
Book Description
In March 2018, representatives of member countries of the African Union signed the African Continental Free Trade Area (AfCFTA) agreement. This agreement provides a framework for trade liberalization in goods and services and is expected to eventually cover all African countries. Using a multi-country, multi-sector general equilibrium model based on Costinot and Rodriguez-Clare (2014), we estimate the welfare effects of the AfCFTA for 45 countries in Africa. Three different model specifications—comprising both perfect competition and monopolistic competition—are used. Simulations include full elimination of import tariffs and partial but substantial reduction in non-tariff barriers (NTBs). Results reveal significant potential welfare gains from trade liberalization in Africa. As intra-regional import tariffs in the continent are already low, the bulk of these gains come from lowering NTBs. Overall gains for the continent are broadly similar under the three model specifications used, with considerable variation of potential welfare gains across countries in all model structures.
Author: Mr.Lisandro Abrego
Publisher: International Monetary Fund
ISBN: 1498314392
Category : Business & Economics
Languages : en
Pages : 32
Get Book Here
Book Description
In March 2018, representatives of member countries of the African Union signed the African Continental Free Trade Area (AfCFTA) agreement. This agreement provides a framework for trade liberalization in goods and services and is expected to eventually cover all African countries. Using a multi-country, multi-sector general equilibrium model based on Costinot and Rodriguez-Clare (2014), we estimate the welfare effects of the AfCFTA for 45 countries in Africa. Three different model specifications—comprising both perfect competition and monopolistic competition—are used. Simulations include full elimination of import tariffs and partial but substantial reduction in non-tariff barriers (NTBs). Results reveal significant potential welfare gains from trade liberalization in Africa. As intra-regional import tariffs in the continent are already low, the bulk of these gains come from lowering NTBs. Overall gains for the continent are broadly similar under the three model specifications used, with considerable variation of potential welfare gains across countries in all model structures.
Author: Mr.Lisandro Abrego
Publisher: International Monetary Fund
ISBN: 1513542370
Category : Business & Economics
Languages : en
Pages : 41
Get Book Here
Book Description
Political momentum towards Africa-wide free trade has been intensifying. In March 2018, over 40 countries signed the African Continental Free Trade Area (AfCFTA) agreement. Once fully implemented, the AfCFTA is expected to cover all 55 African countries, with a combined GDP of about US$2.2 trillion. This SDN takes stock of recent trade developments in Sub-Saharan Africa and assesses the potential benefits and costs of the AfCFTA, as well as challenges to its successful implementation. In addition to increased trade flows both in existing and new products, the AfCFTA has the potential to generate substantial economic benefits for African countries. These benefits include higher income arising from increased efficiency and productivity from improved resource allocation, higher cross-border investment flows, and technology transfers. Besides lowering import tariffs, to ensure these benefits, African countries will need reduce other trade barriers by making more efficient their customs procedures, reducing their wide infrastructure gaps, and improving their business climates. At the same time, policy measures should be taken to mitigate the differential impact of trade liberalization on certain groups as resources are reallocated in the economy and activities migrate to locations with comparatively lower costs.
Author: Mr.Lisandro Abrego
Publisher: International Monetary Fund
ISBN: 1498318789
Category : Business & Economics
Languages : en
Pages : 32
Get Book Here
Book Description
In March 2018, representatives of member countries of the African Union signed the African Continental Free Trade Area (AfCFTA) agreement. This agreement provides a framework for trade liberalization in goods and services and is expected to eventually cover all African countries. Using a multi-country, multi-sector general equilibrium model based on Costinot and Rodriguez-Clare (2014), we estimate the welfare effects of the AfCFTA for 45 countries in Africa. Three different model specifications—comprising both perfect competition and monopolistic competition—are used. Simulations include full elimination of import tariffs and partial but substantial reduction in non-tariff barriers (NTBs). Results reveal significant potential welfare gains from trade liberalization in Africa. As intra-regional import tariffs in the continent are already low, the bulk of these gains come from lowering NTBs. Overall gains for the continent are broadly similar under the three model specifications used, with considerable variation of potential welfare gains across countries in all model structures.
Author:
Publisher: UN
ISBN:
Category : Business & Economics
Languages : en
Pages : 166
Get Book Here
Book Description
The fifth of the series (ARIA/V) has come at a time of renewed enthusiasm for shortening the period of the vision of the Abuja Treaty. Its overall objective is to provide an analytical research publication that defines frameworks for African Governments, the African Union and the Regional Economic Communities, towards accelerating the establishment of the African Common Market through: the speedy removal of all tariff and non-tariff barriers, obstacles to free movement of people, investments and factors of production in general across Africa, and through fast-tracking the creation of an African continental Free Trade Area
Author: World Bank
Publisher: World Bank Publications
ISBN: 1464815607
Category : Political Science
Languages : en
Pages : 166
Get Book Here
Book Description
The African Continental Free Trade Area (AfCFTA) agreement will create the largest free trade area in the world, measured by the number of countries participating. The pact will connect 1.3 billion people across 55 countries with a combined GDP valued at $3.4 trillion. It has the potential to lift 30 million people out of extreme poverty by 2035. But achieving its full potential will depend on putting in place significant policy reforms and trade facilitation measures.The scope of the agreement is considerable. It will reduce tariffs among member countries and cover policy areas, such as trade facilitation and services, as well as regulatory measures, such as sanitary standards and technical barriers to trade. It will complement existing subregional economic communities and trade agreements by offering a continent-wide regulatory framework and by regulating policy areas--such as investment and intellectual property rights protection--that have not been covered in most subregional agreements.The African Continental Free Trade Area: Economic and Distributional Effects quantifies the long-term implications of the agreement for growth, trade, poverty reduction, and employment. Its analysis goes beyond that in previous studies that have largely focused on tariff and nontariff barriers in goods--by including the effects of services and trade facilitation measures, as well as the distributional impacts on poverty, employment, and wages of female and male workers. It is designed to guide policy makers as they develop and implement the extensive range of reforms needed to realize the substantial rewards that the agreement offers. The analysis shows that full implementation of AfCFTA could boost income by 7 percent, or nearly $450 billion, in 2014 prices and market exchange rates. The agreement would also significantly expand African trade--particularly intraregional trade in manufacturing. In addition, it would increase employment opportunities and wages for unskilled workers and help close the wage gap between men and women.
Author: Mary E. Burfisher
Publisher: International Monetary Fund
ISBN: 1498303285
Category : Business & Economics
Languages : en
Pages : 34
Get Book Here
Book Description
The United States – Mexico – Canada Agreement (USMCA) was signed on November 30, 2018 and aims to replace and modernize the North-American Free Trade Agreement (NAFTA). This paper uses a global, multisector, computable-general-equilibrium model to provide an analytical assessment of five key provisions in the new agreement, including tighter rules of origin in the automotive, textiles and apparel sectors, more liberalized agricultural trade, and other trade facilitation measures. The results show that together these provisions would adversely affect trade in the automotive, textiles and apparel sectors, while generating modest aggregate gains in terms of welfare, mostly driven by improved goods market access, with a negligible effect on real GDP. The welfare benefits from USMCA would be greatly enhanced with the elimination of U.S. tariffs on steel and aluminum imports from Canada and Mexico and the elimination of the Canadian and Mexican import surtaxes imposed after the U.S. tariffs were put in place.
Author: United Nations Conference on Trade and Development
Publisher:
ISBN: 9789210039741
Category :
Languages : en
Pages : 0
Get Book Here
Book Description
The advent of the African Continental Free Trade Area (AfCFTA) represents a historic opportunity for the continent to boost intra-African trade and accelerate structural transformation. However, this relies on a critical policy instrument: the effective implementation of preferential trade liberalization among the AfCFTA members. Whether in practice African firms will utilize tariff preferences under the AfCFTA depends on a critical factor: rules of origin (RoO) and the net benefits of complying with them. The Economic Development in Africa Report 2019 argues for the adoption of flexible RoO and a strengthening of institutional capacities to ensure an impartial, transparent, predictable, consistent and neutral implementation of agreed RoO.
Author: Mr.Alexei P Kireyev
Publisher: International Monetary Fund
ISBN: 1484378377
Category : Business & Economics
Languages : en
Pages : 47
Get Book Here
Book Description
Individual countries of the Maghreb have achieved substantial progress on trade, but, as a region they remain the least integrated in the world. The share of intraregional trade is less than 5 percent of their total trade, substantially lower than in all other regional trading blocs around the world. Geopolitical considerations and restrictive economic policies have stifled regional integration. Economic policies have been guided by country-level considerations, with little attention to the region, and are not coordinated. Restrictions on trade and capital flows remain substantial and constrain regional integration for the private sector.
Author: UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT.
Publisher:
ISBN: 9789211130041
Category :
Languages : en
Pages : 220
Get Book Here
Book Description
The African Continental Free Trade Area is expected to be a game changer for development ambitions in Africa.
Author: Leon Mwamba Tshimpaka
Publisher: Springer Nature
ISBN: 3031579925
Category : Africa
Languages : en
Pages : 303
Get Book Here
Book Description
This book examines the establishment and implementation of the AfCFTA, which is the largest free trade area globally, covering 54 African countries. It explores how this initiative has the potential to reshape Africa-EU relations by promoting intra-African trade, economic integration, and diversification, as well as inter-regional trade. Both continents have potential to serve as global actors in reshaping the global order in ways that can affect how multilateralism foster inclusive development. However, whether this will happen would be a function of how the EU and AU define their interests and relationship. Leon Mwamba Tshimpaka is Senior Postdoctoral Research Fellow in the Centre for the Study of Governance Innovation (GovInn) and the SARChI Research Chair in the Political Economy of Migration in the SADC Region in the Department of Political Sciences of the University of Pretoria, South Africa. Samuel Ojo Oloruntoba is Assistant Professor at the Institute of African Studies, Carleton University, Ottawa, Ontario, Canada and Honorary Professor at the Thabo Mbeki African School of Public and International Affairs, University of South Africa, where he was previously an Associate Professor. .
