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Tariff Reduction in a Small Open Economy

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Authors
Vaqar, Ahmed; Cathal, O’Donoghue
Issue Date
2010-10
Publisher
Institute of Economic Research, Seoul National University
Citation
Seoul Journal of Economics, Vol.23 No.4, pp. 461-489
Keywords
Trade liberalizationEconomic growthWelfare computable general equilibrium model
Abstract
During the late 1990s, Pakistan managed to significantly liberalize

its external sector, and by 2002, the average tariff rate was under

17 percent which was well below the average in comparative countries.

Using a social accounting matrix (SAM) for 2002, we develop

a computable general equilibrium (CGE) model to evaluate the impact

of tariff reduction in Pakistan. Our analysis goes beyond the

usual trade-focused general equilibrium studies for Pakistan, as we

also conduct a detailed sensitivity analysis to check the robustness

of welfare-related results. Our findings suggest an overall positive

impact of slashing tariff rates on macroeconomic, and welfare indicators.
ISSN
1225-0279
Language
English
URI
http://hdl.handle.net/10371/71653
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College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.23 no.1/4 (2010)
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