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A General Equilibrium Model of the World Economy, vol. 2, Gains from Global Trade Liberalisation: An Illustrative Application of SALTER

Salter Working Paper

A General Equilibrium Model of the World Economy, Volume 2, Gains from Global Trade Liberalisation: An Illustrative Application of SALTER was a study undertaken by the Industry Commission on behalf of the Department of Foreign Affairs and Trade.

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CONTENTS

Preface

Acknowledgements

Wilfred Edward Graham Salter

1   Introduction and Motivation
A high profile for agriculture
The importance of linking agricultural and non-agricultural reforms
Trading off agricultural and non-agricultural protection

2   Multilateral Trade Liberalisation: An Overview
Agricultural protection and trade
Protection and trade in manufactured products
Results

3   Multilateral Agricultural Trade Liberalisation
Changes in trade flows
World price effects
Estimated output effects
Land rents and farm household welfare

4   Liberalisation in APEC Countries

5   Summary: Linking Agriculture and Non-Agricultural Reform

Appendix A   Economic Structure of the Salter Model of the World Economy
Overview of the economic structure of the SALTER model
The government sector
The external environment in the SALTER model
Production
Final demands
Trade links between regional models
The nature of the experiments

References

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