Premium
SADC Trade with the E uropean U nion from a Preferential to a Reciprocal Modality
Author(s) -
Osman Rehab O. M.
Publication year - 2015
Publication title -
south african journal of economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.502
H-Index - 31
eISSN - 1813-6982
pISSN - 0038-2280
DOI - 10.1111/saje.12043
Subject(s) - computable general equilibrium , welfare , economics , international trade , international economics , general partnership , business , microeconomics , market economy , finance
This study employs a global computable general equilibrium ( CGE ) model to examine the potential impacts of the Economic Partnership Agreements ( EPAs ) between the E uropean Union ( EU ) and the S outhern A frican Development Community ( SADC ). The simulation results suggest that a comprehensive EPA scenario is welfare‐improving for many SADC members. SADC preferential access to the EU markets is the key source for the prospective welfare and terms of trade gains. Overall, SADC production structures become more concentrated in export‐oriented sectors. These structural changes are accompanied by a high degree of adjustment and substantial fiscal losses.