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GTAP Resource #4385

"The Impact Analysis of TTIP on BRICs—based on dynamic GTAP model considering GVC"
by Songfeng, Cai and Yaxiong Zhang

ithin the global value chain (GVC), the intermediate inputs of the products in one country come from various countries around the world, the imported products consumed in domestic may also include the domestic intermediate inputs. Therefore, it is very important to reflect this GVC characteristic when Using GTAP (Global Trade Analysis Project) model to analyze the trade policy. Because of the lack of necessary data, the armington assumption of trade linkage is implemented in two levels in the GTAP model: producers and consumers distinguish the domestic variety of a good from its imported variety without regard to the country of origin of the imported input; the sourcing of imported goods is placed at the border of an economy. In order to improve this common approach which simplifies the import decision at the border level, we introduce the WIOD with a micro-based determination of bilateral trade to place the sourcing of imports at the agent level. In this study, we use the improved dynamic GTAP model to assess the economy-wide impact of TTIP on BRICs. In the simulation, we mainly do the work in two aspects. Firstly, we reduce both tariff and non-tariff barriers (NTBs) between US and EU. Because average tariff levels on both sides of the Atlantic are relatively low already, various non-tariff barriers or NTBs on both sides of the Atlantic constitute important impediments to deepening transatlantic trade linkages. For quantification of NTBs, this study has adopted the equivalent tariff levels of NTBs from the research results of Ecorys (2009) to capture the impact of removing NTBs. Secondly, the simulations that are carried out also take into account two sets of possible spillover effects beyond bilateral liberalization.

Resource Details (Export Citation) GTAP Keywords
Category: 2014 Conference Paper
Status: Published
By/In: Presented at the 17th Annual Conference on Global Economic Analysis, Dakar, Senegal
Date: 2014
Created: Songfeng, C. (4/9/2014)
Updated: Batta, G. (4/15/2014)
Visits: 2,529
- Dynamic modeling
- Non-Tariff barriers
- Asia (East)

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