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The Economic Effects of Labor Force Enhancement in the Asia-Pacific Region by Trade Liberalization

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  • Sung , Hankyoung

    (University of Seoul)

Abstract

This paper uses the most recent Global Trade Analysis Project (GTAP) DB version 9 and a recursive dynamic computable general equilibrium model (CGE) to analyze the economic effect of enhancement in labor productivity that trade liberalization has in the APEC. In particular, unlike the previous studies that apply tariff reduction, this paper focuses on the changes in labor productivity reported by Ahn et al. (2016). The results show an increase in the real GDP of countries with gains in labor productivity. In particular, the results of this study indicate that the benefits of trade liberalization would be even larger for developed countries with a similar level of gains in labor productivity. It is also suggested that the efficiency of production structure or scale of economy may work for developed economies. In conclusion, this paper suggests another reason to pursue trade liberalization within in the APEC region.

Suggested Citation

  • Sung , Hankyoung, 2016. "The Economic Effects of Labor Force Enhancement in the Asia-Pacific Region by Trade Liberalization," APEC Study Series 16-2, Korea Institute for International Economic Policy.
    • Handle: RePEc:ris:kiepas:2016_002
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    Keywords

    Labor Productivity; Dynamic CGE Model; Trade Liberalization; Real GDP;
    All these keywords.

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