Over the past decade, globalisation has been a pervasive trend in almost all economies. The world economy is becoming increasingly interdependent, deepening and intensifying international linkages, most notably in trade. As trade expands among nations throughout the world, integration of the Organisation for Economic Co-operation and Development (OECD) economies with non-OECD economies has become a salient feature of the global economy.
This study identified the possible long-term effect of APEC’s trade liberalisation commitments on real GDP and trade across regions, both inside and outside the APEC area, and on employment by production sector in each region, using a multiregion, multisector, computational general equilibrium (CGE) model.
One of the key findings from our empirical work is the impacts of trade liberalisation and facilitation measures in the APEC region have turned out to be significant at least in direction if not in magnitude, throughout OECD as well as non-OECD ...
