While the renegotiation of the North American Free Trade Agreement has received far more attention, a lesser-known U.S. trade deal has also been reworked. In April of 2017, President Trump proclaimed his displeasure with the Korea-U.S. Free Trade Agreement (commonly referred to as “KORUS”),...

G-Cubed is a multi-country, multi-sector, intertemporal general equilibrium model that has been used to study a variety of policies in the areas of environmental regulation, tax reform, monetary and fiscal policy, and international trade. It is designed to bridge the gaps between three areas of...

This article will analyze the interplay between capital movements and trade in services as structured in World Trade Organization (WTO) law, and it will assess the implications of the capital account liberalization for the freedom of WTO Members to pursue their economic policies. Although the...

This study aims to explore the relationship between public debt and trade openness on economic growth in the context of the Indonesian economy. The symmetric model (Autoregressive Distributed Lag/ARDL) and the asymmetric model (Nonlinear ARDL) are employed to estimate the association among the...

This study investigates the sectoral dimensions of India–ASEAN Free Trade Agreement as a result of tariff liberalization. This study reveals that both India and ASEAN gains in terms of welfare while a term of trade for India deteriorates. The present study reveals that processed food products,...

This paper aims to explain why some consumers may rationally object to free trade. I describe a differentiated-goods economy in which agents differ in their preferences across categories of goods. Due to increasing returns in production the number of goods produced in a given category depends on...

This study investigates the potential trade flows between countries of South, East and South East Asian region as a result of tariff liberalization using the GTAP-model. The study reveals that tariff liberalization has positive effects on all country groupings of South, East and South East Asian...

The basic principles of a free society are timeless, but they need to be relearned every generation. One of those principles is the freedom for people to trade freely with one another — both within nations and across borders. The case in favor of free trade has been uncontroversial among...

Since 1983, Ghana has witnessed trade liberalization policies that were introduced as part of structural adjustment and economic recovery programmes and meant to open up the once closed economy. As part of such reforms, tariffs were reduced, and non-tariff trade barriers lessened. The adjustment...

Trade liberalization has proceeded on the assumption that eventual aggregate welfare gains will exceed the losses. While compensatory mechanisms exist in most countries, they tend to be underfunded and ineffective. To begin to address this problem, the direct beneficiaries from trade...