Quantifying the Uruguay Round

Abstract

How large would the welfare benefits of the Uruguay Round be worldwide? What are the most important quantitative aspects of the Round, and what is its impact on developing countries? Would some countries or regions lose from the Uruguay Round, and why? How robust are the quantitative answers to these questions, and can different quantitative estimates from different models be reconciled? Uses an applied general equilibrium analysis to answer these questions begin with a static model that is characterized by CRTS and perfect competition use the model to provide a thorough evaluation of the elimination of the MFA, and provides the only analysis that decomposes the analyzes the separate components of the agricultural reforms. Presents a set of preferred estimates of steady-state impacts, and performs a systematic sensitivity analysis of the parameters. This analytical sequence provides a coherent statement of mapping from alternative modeling assumptions to quantitative conclusions, including an assessment of comparable mappings for the other principal models of the Round. The base model contains 24 countries and regions and 22 commodities.