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GTAP Resources: Resource Display

GTAP Resource #1427

"EU Enlargement and Its Impacts on East Asia"
by Lee, Hiro and Dominique van der Mensbrugghe


Abstract
Ten countries--most completing their transition from socialist-based economies to market economies--are slated to join the European Union (EU) in May 2004 and four additional countries are expected to become members at some future dates. Despite a relatively small economic size of the accession countries, this type of deep integration can have non-negligible effects on countries outside of the preferential zone as the reduction in barriers across partners leads to a re-orientation of trade. In this paper, we evaluate the extent of trade adjustments and the economic impacts it will have on the East Asian economies using a dynamic computable general equilibrium (CGE) model. The overall macroeconomic effects on East Asia are small. There is some trade diversion, but there may be an opportunity to increase market penetration in some sectors of the expanding EU for which East Asia has a marked comparative advantage. The paper also assesses the relative importance of linking trade openness to productivity and lowering trade costs between the accession countries and the EU-15.


Resource Details (Export Citation) GTAP Keywords
Category: GTAP Application
Status: Published
By/In: Journal of Asian Economics
Date: 2004
Version:
Created: Lee, H. (4/11/2004)
Updated: Dimaranan, B. (4/12/2004)
Visits: 2,377
- Dynamic modeling
- Asia (East)
- European Union


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