Using the interplay of saving, foreign exchange and fiscal constraints, this study determines the impact of trade liberalization, the tariff reduction in particular, on macroeconomic balances. This study then quantifies these effects using a smaller version of the PIDS Annual Macro econometric...

Using a three-gap model, it can be shown that a reduction in the tariff level will lead to an unambiguous decline in the GDP growth rate if it results in a reduction of the surplus of the government’s primary account. Empirical results using Philippine data show that this condition is...

Using a three-gap model, it can be shown that a reduction in the tariff level will lead to an unambiguous decline in the GDP growth rate if it results in a reduction of the surplus of the government’s primary account. Empirical results using Philippine data show that this condition is...

Using the interplay of saving, foreign exchange and fiscal constraints, this study determines the impact of trade liberalization, the tariff reduction in particular, on macroeconomic balances. This study then quantifies these effects using a smaller version of the PIDS Annual Macro econometric...

Using a three-gap model, it can be shown that a reduction in the tariff level will lead to an unambiguous decline in the GDP growth rate if it results in a reduction of the surplus of the government's primary account. Empirical results using Philippine data show that this condition is satisfied....

Using a three-gap model, it can be shown that a reduction in the tariff level will lead to an unambiguous decline in the GDP growth rate if it results in a reduction of the surplus of the government’s primary account. Empirical results using Philippine data show that this condition is...