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Assessing the economic impact of the ECOWAS CET and economic partnership agreement on Ghana (الإنجليزية)

Ghana is currently facing two major trade policy adjustments. The economic community of West African states (ECOWAS) common external tariff (CET) is a significant milestone within the long history of regional integration in West Africa. In addition to the CET, Ghana faces the economic partnership agreement (EPA) with the European Union (EU), which has been designed to build on the CET in West Africa. Although the CET will change Ghana’s tariffs on all imports from outside ECOWAS, the EPA will change only those tariffs faced by the EU. The EPA has been signed by all EU member countries and most of the 16 ECOWAS countries (plus Mauritania), with those remaining expected to do so shortly. Entry into force will require all countries in the West Africa party to sign and two-thirds to ratify. The EPA will allow duty-free access to the West African countries for a sizeable share of products originating from the EU, and continued 100 percent duty-free access for exports to the EU market. The study seeks to improve the information available to policy makers in Ghana. The first stage of the study employs the trade reform impact simulation tool (TRIST), which was developed by the World Bank. Second, the model is mute on the macroeconomic adjustment process to the trade reform, which typically will take place through the real exchange rate, as well as key long-term macro aggregates, such as economic growth and investment. Third, the study focuses on the market access aspects of the CET and EPA trade reforms and, within this, on the impact on consumers and the manufacturing sector. Fourth, the firm-level survey data are somewhat dated at this point. The study is structured as follows: section one gives introduction. Section two summarizes the market access content of the CET and EPA. Section three analyzes the effects of each reform on revenues and imports, section four looks at the effects on consumers, and section five examines the effects on firms’ competitiveness and jobs. Section six looks at potential accompanying measures and section seven concludes.

تفاصيل

  • المؤلف

    Macleod,Jamie Alexander, Von Uexkull,Jan Erik, Shui,Lulu

  • تاريخ الوثيقة

    2015/01/01

  • رقم التقرير

    101138

  • مجلد رقم

    1

  • عدد المجلدات

    1

  • البلد

    غانا,

  • المنطقة

    أفريقيا,

  • تاريخ الإفصاح

    2015/11/24

  • حالة الافصاح

    Disclosed

  • اسم الوثيقة

    Assessing the economic impact of the ECOWAS CET and economic partnership agreement on Ghana

  • كلمة أساسية

    general equilibrium trade model;government revenue;increase tariff;reduction in tariffs;tariff reform;low income household;effect of trade;access to information;trade policy reform;government revenue growth;error correction model;average household consumption;machinery and equipment;radio and television;import market;tariff line;prices of input;change in revenue;source of revenue;government revenue source;cost of import;competitiveness of firms;effect of price;trade diversion effect;competitiveness and jobs;average tariff rate;complete free trade;tax on imports;real exchange rate;price of imports;common external tariff;free trade regime;effect of tariff;fruit and vegetable;change in prices;regional free trade;heads of state;trade facilitation effects;price of rice;area of customs;increase in consumption;determinants of trade;partial equilibrium model;trading partner;tariff change;price change;manufacturing sector;tariff revenue;consumer price;consumption bundle;distribution network;Trade Policies;output price;tariff structure;trade flow;tariff increase;market access;import tax;tariff reduction;average consumption;income quintile;duty-free access;excise duty;negative effect;international market;tariff protection;traded goods;import duty;firm level;tariff adjustment;firm profitability;import demand;trade datum;input price;metal product;poor household;nontraded good;chemical product;high tariff;tariff schedule;demand elasticity;apparel sector;annual imports;world price;local price;aggregate result;consumer demand;electrical machinery;revenue account;palm oil;food product;imperfect substitution;average consumer;Labor Market;substantial variation;product category;demand response;International Trade;capital price;windfall profit;equipment cost;comparative static;tax instrument;adjustment process;protection level;price effect;electricity outages;household income;competitive market;consumption datum;welfare gains;increased competition;tax cut;Tax Exemption;gradual opening;positive impact;adjustment dynamic;informal trader;liberal trade;customs procedure;opportunity cost;anecdotal evidence;marginal effect;import substitution;consumer product;substitution effect;long-term effect;beneficial impact;reform scenario;foreign import;duty-free trade;supply elasticity;consumption price;distribution market;informed consumer;production conditions;average price;market opening;agricultural sector;net effect;trading regime;proportional change;tariff regime;petroleum sector;trade partner;preferential liberalization;export market;firm competitiveness;public debate;products originating;import structure;development path;maximum benefit;household-level effect;program leader;production pattern;conservative revenue;annual revenue;domestic price;consumption pattern;macroeconomic adjustment;productivity growth;import share;fiscal situation;fiscal data;customs revenue;Exchange Rates;government institution;customs datum;international agency;non-governmental organization;religious bodies;windfall gain;free zone;import tariff;preferential tariff;local factors;local market;tariff liberalization;import good;transport cost;price falls;elasticity assumption;bonded warehouse;future imports;intermediate product;meaningful tariff;mineral product;imported inputs;consumer welfare;dynamic effect;internal market;import effects;small trader;physical inspection;alternative revenue;price rise;domestic production;trade agreement;

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