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Tariff -- United States --- Tariff -- Rates -- United States
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This paper applies a partial equilibrium model to analyze the fiscal revenue implications of the prospective economic partnership agreement between the Economic Community of West African States (ECOWAS) and the European Union. The authors find that, under standard import price and substitution elasticity assumptions, eliminating tariffs on all imports from the European Union would increase ECOWAS' imports from the European Union by 10.5-11.5 percent for selected ECOWAS countries, namely Cape Verde, Ghana, Nigeria, and Senegal. This increase in imports would be accompanied by a 2.4-5.6 percent decrease in total government revenues, owing mainly to lower fiscal revenues. Tariff revenue losses should represent 1 percent of GDP in Nigeria, 1.7 percent in Ghana, 2 percent in Senegal, and 3.6 percent in Cape Verde. However, the revenue losses may be manageable because of several mitigating factors, in particular the likelihood of product exclusions, the length of the agreement's implementation period, and the scope for reform of exemption regimes. The large country-by-country differences in fiscal revenue loss suggest that domestic tax reforms and fiscal transfers within ECOWAS could be important complements to the agreement's implementation.
Applied Tariff --- Debt Markets --- Economic Theory and Research --- Exports --- Finance and Financial Sector Development --- Free Trade --- Gross Domestic Product --- Import Tariff --- International Economics & Trade --- International Trade and Trade Rules --- Macroeconomics and Economic Growth --- Public Sector Development --- Regional Trade --- Tariff Rates --- Tariff revenue --- Trade Agreement --- Trade Liberalization --- Trade Policy
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Despite the long relationship between the European Union and the African, Caribbean, and Pacific (ACP) countries aimed at encouraging their exports while stimulating growth and investment, the ACP states still face difficulties in integrating into the world economy. The author examines the non-least developed ACP countries ' preferential trade with the EU. Her objective is to explain the determinants of preferential exports of ACP countries toward the EU and to assess the impact of preferences on trade volumes. The author also investigates the existence of a threshold in the offered duty reduction under which traders have no incentives to ask for preferences.
Country Tariff --- Duty Reduction --- Economic Theory and Research --- Exports --- Free Access --- Free Trade --- International Economics & Trade --- Law and Development --- Macroeconomics and Economic Growth --- Market Access --- Preferential Access --- Preferential Status --- Preferential Trade --- Preferential Trade Agreements --- Public Sector Development --- Rules of Origin --- Share Of World Exports --- Tariff --- Tariff Rates --- Tariff Reduction --- Tariffs --- Trade Expansion --- Trade Law --- Trade Patterns --- Trade Policy --- Trade Preferences --- Trade Volumes
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