The Gains From MERCOSUL: A General Equilibrium, Imperfect Competition Evaluation
Renato G. Fl˘res Jr. Journal of Policy Modeling Volume 19, Issue 1, pages 1-18 (1997)
Since the signature in March 1991 of the Assuncion Treaty, macroeconomic problems and particularly the stabilization issue have received foremost attention in the majority of studies on the MERCOSUL. However, analysis of other questions of comparable relevance are sorely needed. Trade liberalization efforts in South America, with Chile often hailed as a model case, are happening at a fast pace, and analytic studies cannot wait longer.
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A Numerical Example Showing Globally Welfare-Worsening Liberalization of International Trade in Banking Services
Ngee Choon Chia Journal of Policy Modeling Volume 19, Issue 2, pages 119-127 (1997)
Liberalization of trade in services has become central to the GATT Uruguay Round negotiations (yet to conclude at time of writing). The theme underlying much of the discussion is that global free trade in services, as with goods, is desirable, as in McCulloh's (1990) argument that liberalizing trade in services will be necessary to maintain forward liberalizing momentum beyond the Uruguay Round. And, in a recent theoretical paper, Jones and Ruane (1990) have come to the conclusion that opening up trade in either service factors or service products will unambigu-ously improve welfare for a country, independent of a country's relative factor endowments and whether or not it has a comparative advantage in services. Thus in both the policy and academic communities, liberalization in services, like goods, is generally thought to be good.
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