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Market Growth, Structural Change, and the Gains from the Uruguay Round
Author(s) -
Bach Christian Friis,
Dimaranan Betina,
Hertel Thomas W.,
Martin Will
Publication year - 2000
Publication title -
review of international economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.513
H-Index - 58
eISSN - 1467-9396
pISSN - 0965-7576
DOI - 10.1111/1467-9396.00222
Subject(s) - economics , welfare , structural change , consumer welfare , international economics , comparative advantage , clothing , macroeconomics , international trade , market economy , archaeology , history
It is found that market growth and structural changes will affect the results of quantitative analyses of the Uruguay Round. Rapid economic growth in Asia, and relatively deeper cuts in protection in that region, result in larger proportionate welfare gains in the year 2005 than in the year 1992. It is also found that changing comparative advantage, and shifts in global demand, result in substantial changes in the restrictive effects of the bilateral quotas on textiles and apparel. Accounting for the factors associated with market growth and structural change adds 30% to the estimates of global welfare gains from the Uruguay Round.