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Author: Dan Ciuriak
Publisher:
ISBN:
Category :
Languages : en
Pages : 49
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Book Description
This paper analyzes the impact of the Canada-Korea Free Trade Agreement (CKFTA) on the basis of the published text and agreed schedule of commitments. We find that the CKFTA tends to reinforce existing patterns of comparative advantage between Canada and Korea: for Canada, the agricultural sector gains and, for Korea, the industrial sector gains. The sensitive sectors that had held up the deal for years - autos into Canada and beef into Korea - are also the sectors where the major gains are expected. In both economies, the major output gains otherwise come in non-traded services sectors, driven by the deal's income effects. We find that trade diversion effects are quite significant; this lends support for the domino theory of major free trade agreements - since the Korea-EU agreement broke the ice, the pressure intensifies on third parties to claw back lost preferences by striking their own deals. The evaluation remains ex ante in nature, as the agreement has not been implemented and the trade value assigned to the commitments in the services and investment areas remain to be validated Whether the various transparency and facilitation measures simply remove nuisance factors in services trade and investment or whether they materially affect the costs, resulting in expanded trade flows and inducing investment, will need to be evaluated on an ex post basis. The present study is nonetheless, in our view, a step forward in understanding the impact of the CKFTA.
Author: Dan Ciuriak
Publisher:
ISBN:
Category :
Languages : en
Pages : 49
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Book Description
This paper analyzes the impact of the Canada-Korea Free Trade Agreement (CKFTA) on the basis of the published text and agreed schedule of commitments. We find that the CKFTA tends to reinforce existing patterns of comparative advantage between Canada and Korea: for Canada, the agricultural sector gains and, for Korea, the industrial sector gains. The sensitive sectors that had held up the deal for years - autos into Canada and beef into Korea - are also the sectors where the major gains are expected. In both economies, the major output gains otherwise come in non-traded services sectors, driven by the deal's income effects. We find that trade diversion effects are quite significant; this lends support for the domino theory of major free trade agreements - since the Korea-EU agreement broke the ice, the pressure intensifies on third parties to claw back lost preferences by striking their own deals. The evaluation remains ex ante in nature, as the agreement has not been implemented and the trade value assigned to the commitments in the services and investment areas remain to be validated Whether the various transparency and facilitation measures simply remove nuisance factors in services trade and investment or whether they materially affect the costs, resulting in expanded trade flows and inducing investment, will need to be evaluated on an ex post basis. The present study is nonetheless, in our view, a step forward in understanding the impact of the CKFTA.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Canada and Korea Compared2 The CKFTA links two of the largest economies in the world. [...] Economic Welfare: We find the CKFTA has small but positive impacts on both Canada and Korea in terms of economic welfare (which takes into account changes stemming from the agreement in both the quantity of output and in prices) and real GDP (a measure of the impact on the quantity of output only). [...] We then reduce tariffs between Canada and Korea according to the phase-in schedules in the agreement, and allow for the reduction of non-tariff barriers to goods trade, cross-border services trade and FDI flows. [...] Since changes in the STRIs can be linked to changes in trade through econometric techniques, this approach provides a much sharper evaluation of the impact of a trade agreement on services trade than is possible under alternative existing methods of estimating the liberalizing impact of a trade agreement. [...] The conversion ratio of 1.219694 is calculated as the change in the US GDP deflator between 2007 and 2014, as per the IMF World Economic Outlook database (October 2014), multiplied by the Canada/US annual average exchange rate for 2014 from the same database.
Author: Carlo Dade
Publisher:
ISBN:
Category : Canada
Languages : en
Pages : 6
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Book Description
The Canada-Korea Free Trade Agreement (CKFTA), which came into force on Jan. 1, 2015, is a comprehensive trade agreement between Canada and South Korea. It liberalizes or reduces barriers to: trade in goods, financial and other services, government procurement, intellectual property and investment. The agreement also addresses non-tariff trade barriers, movement of people for work and co-operation in labour and the environment.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 9
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Book Description
Author:
Publisher:
ISBN: 9780660248387
Category :
Languages : en
Pages : 2
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Book Description
"The Canada-Korea Free Trade Agreement, or CKFTA, is a free trade agreement that provides preferential tariff treatment for Canadian exports to Korea, including agri-food and seafood products. As our first free trade agreement in the region, it levels the playing field in the Korean market, opens the doors to regional value chains and expands Canadian trade opportunities"--Page [1].
Author: Dan Ciuriak
Publisher:
ISBN:
Category : Canada
Languages : en
Pages : 14
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Book Description
Author: Dan Ciuriak
Publisher:
ISBN:
Category :
Languages : en
Pages : 13
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Book Description
This paper assesses the economic impact of the Canada-Korea Free Trade Agreement (CKFTA) on the basis of the published text and agreed schedule of commitments. We introduce new estimates of the impact of the services measures based on the extent to which they change the Services Trade Restrictiveness Index for Canada and Korea. The study contributes to the literature by making more precise the evaluation of services trade liberalization measures.
Author:
Publisher:
ISBN: 9781100233550
Category : Canada
Languages : en
Pages : 54
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Book Description
Author: Paul Martin
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: In-bŏm Chʻoe
Publisher: Peterson Institute
ISBN: 9780881323115
Category : Business & Economics
Languages : en
Pages : 156
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Book Description
This study examines the economic and political benefits of the U.S. pursuing Free Trade Agreement negotiations with Korea, which is pursuing FTA accords as part of a strategy to restructure its economy and sustain the recovery from its 1997-98 economic crisis. The authors examine the impact of a prospective pact on other trading partners, on the Asia-Pacific Economic Cooperation, and on the multilateral trading system.
