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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:The Impact of Economic Partnership Agreements in Countries of the Southern African Development Community
Authors:Keck, Alexander
Piermartini, RobertaISNI
Periodical:Journal of African Economies
Geographic term:Southern Africa
Subjects:trade agreements
trade policy
European Union
economic models
Development and Technology
Economics and Trade
Inter-African Relations
international relations
External link:https://jae.oxfordjournals.org/content/17/1/85.full.pdf
Abstract:In the context of economic partnership agreements (EPAs) currently under negotiation between the European Union (EU) and African, Caribbean and Pacific (ACP) countries, trade is meant to be progressively liberalized in a reciprocal way as of 2008. EPAs are also intended to foster existing regional integration efforts among the ACP countries. This paper presents a computable general equilibrium model simulation of the impact of EPAs for countries of the Southern African Development Community (SADC). Different liberalization scenarios are compared. The paper finds that EPAs with the EU are welfare-enhancing for SADC overall, in particular if reductions in unemployment are considered. Results are robust to variations in key model parameters. For most countries, further gains arise from intra-SADC liberalization. The possibility of the EU entering a free trade agreement with other countries, such as Mercosur, reduces estimated gains, but they still remain largely positive. Similarly, estimated gains need to be revised downwards if agriculture liberalization is not as far-reaching as a reduction of import barriers for manufactures. At the sectoral level, the largest expansion in SADC economies takes place in the animal agriculture and processed food sectors, while manufacturing becomes comparatively less attractive following EU-SADC liberalization. Results also show the need for the Southern African Customs Union tariff pooling formula to be adjusted to reflect new import patterns as tariffs are removed. Bibliogr., notes, ref., sum. [Journal abstract]