| Description |
1 online resource (33 pages). |
|
text file |
| Series |
IMF Working Paper ; WP/19/124
|
|
IMF working paper ; WP/19/124.
|
| Contents |
Key elements of the AfCFTA -- The current state of trade in Africa -- A model for evaluating the effects of the AfCFTA -- Data and calibration -- Simulation results -- Relation to other studies -- Conclusion and policy implications. |
| Summary |
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. |
| Local Note |
eBooks on EBSCOhost EBSCO eBook Subscription Academic Collection - North America |
| Subject |
Economic development -- Africa.
|
|
Economic development. |
|
Africa. |
|
Free trade -- Africa.
|
|
Free trade. |
|
Africa -- Commercial treaties.
|
| Genre/Form |
Commercial treaties.
|
| Subject |
Africa -- Economic integration.
|
|
International economic integration. |
|
Commercial Policy. |
|
Models of Trade with Imperfect Competition and Scale Economies. |
|
Neoclassical Models of Trade. |
|
Promotion. |
|
Protection. |
| Genre/Form |
Electronic books.
|
|
Treaties.
|
|
Treaties.
|
| Added Author |
Amado, Maria Alejandra, author.
|
|
Gursoy, Tunc, author.
|
|
International Monetary Fund, issuing body.
|
| Other Form: |
Print version: Abrego, Lisandro. African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model. Washington, D.C. : International Monetary Fund, ©2019 9781498314398 |
| ISBN |
1498314392 |
|
1498318800 |
|
9781498314398 |
|
9781498318808 (electronic book) |
| Standard No. |
10.5089/9781498314398.001 |
|
