Modelling the Impact of Trade Liberalisation
Subtitle: A Critique of Computable General Equilibrium Models (An Oxfam International Research Report)
Publisher: Oxfam Publishing; Oxfam International
Published: December 2007
Language: eng
Format: Paperback
Number of pages: 62
ISBN-13: 9780855985851
Subjects: Computer modelling & simulation; International trade; Social Science; Politics / Current Events; Sociology; Economics - Macroeconomics; International Relations - Trade & Tariffs; Public Policy - Economic Policy; Social Science / Third World Development; Developing Countries
Description: "This research report presents a rigorous critique of the most widely used trade models based on computable general equilibrium (or CGE) models. The authors present concise analytical arguments explaining the fundamental weaknesses of 'typical' CGE models. They show that these models tend to make unrealistic assumptions about the macro-economy and do not allow an accurate estimation of the welfare gains that trade liberalisation is supposed to induce. The report appeals for 'honest' simulation strategies showing a variety of possible outcomes, which would enable policy-makers to assess the different scenarios for themselves."--Back cover.