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GTAP Resources: Resource Display

GTAP Resource #2709

"TRIGGERS, REMEDIES AND TARIFF CUTS: ASSESSING THE IMPACT OF THE G33 SPECIAL SAFEGUARD MECHANISM AND G20 TARIFF CUTS "
by Grant, Jason and Karl Meilke


Abstract
The Framework Agreement and Chairman Falconer’s recent draft text commit WTO Members to establish a new Special Safeguard Mechanism (SSM) for developing countries. An SSM may be an attractive policy tool for low-income countries because it is automatic and it does not require an injury test nor the provision of compensation. In this study we calibrate a global, stochastic, partial equilibrium model to assess the economic impact of the recent G33 SSM proposal on low-income, developing countries. We pay close attention to the stabilization effects of the G33 SSM on developing country domestic markets as well as the welfare cost on developed country exporters using the world wheat market as our case study. The results show that an SSM can stabilize domestic markets and costs very little in terms of economic welfare. However, the SSM can destabilize domestic market conditions. Frequent use of the volume-based SSM leads to domestic price instability in 22 out of 31 low income countries examined.


Resource Details (Export Citation) GTAP Keywords
Category: 2008 Conference Paper
Status: Published
By/In: Presented at the 11th Annual Conference on Global Economic Analysis, Helsinki, Finland
Date: 2008
Version:
Created: Grant, J. (4/15/2008)
Updated: Grant, J. (4/15/2008)
Visits: 1,373
- Domestic policy analysis
- Agricultural policies
- Economic development


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