Trade Taxes Are Expensive

Topics:
GATT,
Tariffs,
Taxes
Tags:
Brandeis University,
Finance,
Financial Planning,
Free Trade,
Tariff,
Taxes,
Welfare
Source:
Brandeis University

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Overview: This paper examines the welfare implications of trade reforms in the presence of a government budget constraint. There is consensus about gains from opening up to trade. The less investigated question is, whether a coordinated tax reform, where the tariff revenue cuts are compensated with increases in distortionary domestic taxes, will still be welfare improving or not. This paper uses a CGE model to generate "Marginal Cost of Funds" (MCF) figures for 32 countries to answer this question. The results suggest that there are significant welfare gains from further trade liberalization, especially for developing countries.

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Format: PDF | Size: 397KB | Date: Aug 2004 | Pages: 44

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