Trade and Development: Lessons from Vietnam's Past Trade Agreements
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Trade and Development : Lessons from Vietnam's Past Trade Agreements. / Abbott, Philip; Bentzen, Jeanet; Tarp, Finn.
In: World Development, Vol. 37, No. 2, 2009, p. 341-353.Research output: Contribution to journal › Journal article › Research › peer-review
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TY - JOUR
T1 - Trade and Development
T2 - Lessons from Vietnam's Past Trade Agreements
AU - Abbott, Philip
AU - Bentzen, Jeanet
AU - Tarp, Finn
PY - 2009
Y1 - 2009
N2 - History, not predictions of CGE models or cross-country growth studies, shows a strong relationship between trade and development. Vietnam's experience with bilateral trade agreements, comparing actual outcomes with predictions from existing models, demonstrates this and the limitations of research methodologies. Forecasts for Vietnam greatly underestimated the impact of past agreements because tariff reform was not the main factor driving adjustments. Addressing market imperfections through institutional reform was central to bringing output and trade expansion. Key questions for future research are whether policy reform will result in new institutional changes, and how resulting incentives determine the evolution of investment by sector.
AB - History, not predictions of CGE models or cross-country growth studies, shows a strong relationship between trade and development. Vietnam's experience with bilateral trade agreements, comparing actual outcomes with predictions from existing models, demonstrates this and the limitations of research methodologies. Forecasts for Vietnam greatly underestimated the impact of past agreements because tariff reform was not the main factor driving adjustments. Addressing market imperfections through institutional reform was central to bringing output and trade expansion. Key questions for future research are whether policy reform will result in new institutional changes, and how resulting incentives determine the evolution of investment by sector.
KW - Faculty of Social Sciences
KW - trade liberalization
KW - bilateral trade agreements
KW - WTO accession
KW - Vietnam
U2 - 10.1016/j.worlddev.2008.04.005
DO - 10.1016/j.worlddev.2008.04.005
M3 - Journal article
VL - 37
SP - 341
EP - 353
JO - World Development
JF - World Development
SN - 1873-5991
IS - 2
ER -
ID: 10001539