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Papers by Clinton Shiells
The North American Journal of Economics and Finance, 1994
Tariff protection between the North American economies is relatively low by world standards, havi... more Tariff protection between the North American economies is relatively low by world standards, having declined significantly with the NAFTA accords. Despite this apparent move toward a more liberal trade regime, however, nontariff barriers and other deterrents still exert a pervasive influence on trade. In this paper, a calibrated general equilibrium model is used to evaluate the opportunity cost of trade reducing nontariff barriers. Our results indicate that the United States, Canada, and Mexico could realize substantial gains from a more comprehensive approach to trade liberalization but that the process of adjustment to full liberalization differs in important ways from adjustment to simple tariff removal. All rights of reproduction in any form reserved 138 D. ROLAND-HOLST, K. A. REINERT, and C. R. SHIELLS and economic interests are more diverse, and consensus is more difficult to achieve or even approximate. Finally, an emphasis in the multilateral negotiations on nominal protection has led to proliferation of nontariff trade control measures which in many instances threaten to reverse the long-term trend toward a more liberalized global trading regime. A prominent example of this is the Multifiber Arrangement governing textile and apparel trade.
The North American Journal of Economics and Finance, 1994
Tariff protection between the North American economies is relatively low by world standards, havi... more Tariff protection between the North American economies is relatively low by world standards, having declined significantly with the NAFTA accords. Despite this apparent move toward a more liberal trade regime, however, nontariff barriers and other deterrents still exert a pervasive influence on trade. In this paper, a calibrated general equilibrium model is used to evaluate the opportunity cost of trade reducing nontariff barriers. Our results indicate that the United States, Canada, and Mexico could realize substantial gains from a more comprehensive approach to trade liberalization but that the process of adjustment to full liberalization differs in important ways from adjustment to simple tariff removal. All rights of reproduction in any form reserved 138 D. ROLAND-HOLST, K. A. REINERT, and C. R. SHIELLS and economic interests are more diverse, and consensus is more difficult to achieve or even approximate. Finally, an emphasis in the multilateral negotiations on nominal protection has led to proliferation of nontariff trade control measures which in many instances threaten to reverse the long-term trend toward a more liberalized global trading regime. A prominent example of this is the Multifiber Arrangement governing textile and apparel trade.