Quantifying the impact of services liberalization in a developing country |
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Authors: | Denise Eby Konan Keith E Maskus |
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Institution: | 1. Department of Economics, University of Hawaii, Honolulu, HI 96822,USA;2. Department of Economics, Box 256, University of Colorado, Boulder, CO 80309,USA |
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Abstract: | We compare goods versus services liberalization in terms of welfare, outputs, and factor prices in Tunisia using a CGE model with multiple products, services and trading partners. Restraints on services trade involve both cross-border supply (tariff-equivalent price wedges) and on foreign ownership (monopoly-rent distortions and inefficiency costs). Goods-trade liberalization yields a modest gain in aggregate welfare. Reducing service barriers generate relatively large welfare gains and low adjustment costs. Services liberalization increases economic activity in all sectors and raise the real returns to both capital and labor. The results point to the potential importance of deregulating services provision for economic development. |
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Keywords: | C68 F13 F14 F23 L8 |
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