Deeper Integration or Open Regionalism in the Indian Ocean Rim Association (IORA): A CGE Approach

• 영문명: Deeper Integration or Open Regionalism in the Indian Ocean Rim Association (IORA): A CGE Approach
• 발행기관: 세종대학교 경제통합연구소
• 저자명: Abdallah Akintola Houcine Boughanmi Alessandro Antimiani Lokman Zaibet Hemesiri Kotagama
• 간행물 정보: 『Journal of Economic Integration』제37권 제4호, 705~733쪽, 전체 29쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2022.12.01

영문 초록

The Indian Ocean Rim Association (IORA) is a regional association based on the principle of open regionalism to promote liberalization through trade and investment facilitation. This study compares two main scenarios with the ingredients of a deeper regional integration compared to the IORA's present open regionalism status. Scenario I evaluates the effects of gradual tariff cuts on IORA, while Scenario II combines the impact of tariff cuts, non-tariff measures (NTM) reduction, and trade facilitation. A recent recursive dynamic model, called Global Trade Analysis Project recursive dynamic model (GTAP-RD), was used to understand the adjustment path. The result shows welfare gain for a ll IORA countries when a t rade liberalization involving tariff cuts is complemented with NTM reduction and trade facilitation. In addition, the “NTM spillover” effect on some non-IORA members (the rest of Gulf Cooperation Council, the rest of Greater Arab Free Trade Agreement, and the United Kingdom) was observed. The results suggest that IORA has more to gain if it involves a deeper regional integration than the present form of open regionalism.

목차

I. Introduction

II. Literature Review

III. Model Specification

IV. Results and Discussion

V. Conclusion

References

Appendix

키워드

integration Indian Ocean Rim Association non-tariff measures trade facilitation dynamic model