The African Continental Free Trade Agreement Welfare Gains Estimates From A General Equilibrium Model
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The African Continental Free Trade Agreement Welfare Gains Estimates From A General Equilibrium Model
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Author : Mr.Lisandro Abrego
language : en
Publisher: International Monetary Fund
Release Date : 2019-06-07
The African Continental Free Trade Agreement Welfare Gains Estimates From A General Equilibrium Model written by Mr.Lisandro Abrego and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-07 with Business & Economics categories.
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.
The African Continental Free Trade Area Potential Economic Impact And Challenges
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Author : Mr.Lisandro Abrego
language : en
Publisher: International Monetary Fund
Release Date : 2020-05-13
The African Continental Free Trade Area Potential Economic Impact And Challenges written by Mr.Lisandro Abrego and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-13 with Business & Economics categories.
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.
The African Continental Free Trade Area
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Author : World Bank
language : en
Publisher: World Bank Publications
Release Date : 2020-09-28
The African Continental Free Trade Area written by World Bank and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-28 with Political Science categories.
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.
Assessing Regional Integration In Africa V
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Author :
language : en
Publisher: UN
Release Date : 2012
Assessing Regional Integration In Africa V written by and has been published by UN this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Africa categories.
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
Methodology For Impact Assessment Of Free Trade Agreements
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Author : Michael G. Plummer
language : en
Publisher: Asian Development Bank
Release Date : 2011-02-01
Methodology For Impact Assessment Of Free Trade Agreements written by Michael G. Plummer and has been published by Asian Development Bank this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-02-01 with Political Science categories.
This publication displays the menu for choice of available methods to evaluate the impact of Free Trade Agreements (FTAs). It caters mainly to policy makers from developing countries and aims to equip them with some economic knowledge and techniques that will enable them to conduct their own economic evaluation studies on existing or future FTAs, or to critically re-examine the results of impact assessment studies conducted by others, at the very least.
Economic Development In Africa Report 2019
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Author : United Nations Conference on Trade and Development (UNCTAD)
language : en
Publisher: United Nations
Release Date : 2019-06-26
Economic Development In Africa Report 2019 written by United Nations Conference on Trade and Development (UNCTAD) and has been published by United Nations this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-26 with Law categories.
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. This report 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.
Africa Eu Relations And The African Continental Free Trade Area
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Author : Leon Mwamba Tshimpaka
language : en
Publisher: Springer Nature
Release Date :
Africa Eu Relations And The African Continental Free Trade Area written by Leon Mwamba Tshimpaka and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Sustainable Consumption Experience And Business Models In The Modern World
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Author : Machado Carvalho, Maria Amélia
language : en
Publisher: IGI Global
Release Date : 2023-12-21
Sustainable Consumption Experience And Business Models In The Modern World written by Machado Carvalho, Maria Amélia and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-12-21 with Business & Economics categories.
In the face of escalating environmental degradation and dwindling natural resources, the imperative for sustainable production and consumption has taken center stage, compelling companies and consumers alike to seek a more sustainable path forward. Sustainable consumption and production entail the utilization of goods and services that strive to minimize detrimental impacts on the environment. This involves reducing the utilization of natural resources, toxic substances, and polluting emissions, all while ensuring the satisfaction of future generations' needs. Sustainable Consumption Experience and Business Models in the Modern World explores the crucial interplay between sustainability, businesses, and consumers. From a business standpoint, the pressing concerns surrounding sustainability drive the emergence of innovative sustainable products, services, and business models. Simultaneously, conscientious consumers increasingly gravitate towards sustainable alternatives, embracing the purchase of eco-friendly products and services, engaging in product exchanges, do-it-yourself initiatives, acquiring second-hand items, and participating in the sharing economy. Designed for professionals, students, and researchers in the field of sustainable marketing, this book covers a wide range of disciplines, including but not limited to sustainability, sustainable marketing, green products, second-hand goods, and consumer behavior.
Nafta To Usmca What Is Gained
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Author : Mary E. Burfisher
language : en
Publisher: International Monetary Fund
Release Date : 2019-03-26
Nafta To Usmca What Is Gained written by Mary E. Burfisher and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-26 with Business & Economics categories.
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.
Economic Development In Africa Report 2021
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Author : UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT.
language : en
Publisher:
Release Date : 2022-01-07
Economic Development In Africa Report 2021 written by UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT. and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-01-07 with categories.
The African Continental Free Trade Area is expected to be a game changer for development ambitions in Africa.