The welfare implications of services liberalization in a developing country

• 成果类型: Article
• 署名作者: Jouini, Nizar; Rebei, Nooman
• 署名单位: African Development Bank Group (AfDB); International Monetary Fund
• 刊物名称: JOURNAL OF DEVELOPMENT ECONOMICS
• ISSN/ISSBN: 0304-3878
• DOI: 10.1016/j.jdeveco.2013.07.016
• 发表日期: 2014
• 页码: 1-14
• 关键词: liberalization; Trade in services and goods; general equilibrium; Bayesian estimation; Tunisia

摘要

We propose an integrated method based on a two-sector small open economy dynamic and stochastic general equilibrium model to estimate non-tariff barriers and quantify the impact of services liberalization. The major component of trade barriers is explicitly modeled through the introduction of entry-sunk costs. Hence, liberalization is treated assuming a government's policy decision aimed at reducing those costs. Then, we estimate the model using Bayesian techniques for Tunisia and the Euro Area. The paper presents a precise quantitative evaluation of services trade barriers as the difference between entry-sunk costs in Tunisia versus the Euro Area. We find significant welfare benefits in addition to aggregate and sectoral growth gains the Tunisian economy could attain following services liberalization. Surprisingly, the good sector is the one that benefits the most from services liberalization in the short- and long-term horizons. (C) 2013 Published by Elsevier B.V.