Description
This volume analyzes the economic effects of a prospective free trade agreement between the United States and Colombia. The study uses the Global Trade Analysis Project (GTAP) model of world trade and economic activity to analyze the expected trade and other economic impacts of the prospective FTA and to examine bilateral trade and investment flows, bilateral trade frictions, and implications of the prospective accords for the bilateral, regional, and global trade relations of the two countries.
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Schott (Institute for International Economics) and his contributors examine current trade relations between US and Colombia and analyzes the likely impact of the proposed free trade agreement between the two countries, which may be congressionally ratified by the end of November 2006. Opening chapters examine bilateral trade and investment in terms of areas of trade complementarities and trade frictions, examine the "readiness" of Colombia for a free trade agreement in terms of indicators of economic and political stability, and quantitatively analyze trade and welfare impacts on both countries using applied general equilibrium and gravity models. Three chapters focus on key issues of contention: agriculture, labor, and intellectual property rights. The concluding chapter reviews the implications for broader hemispheric trade integration. Annotation ©2007 Book News, Inc., Portland, OR (booknews.com)
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