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Publications & Research :: Policy Research Working Paper

Services Liberalization in Preferential Trade Arrangements : The Case of Kenya

ACCOUNTING ADVANCED COUNTRIES AGGREGATE EXPORTS AGRICULTURAL PRODUCTS AGRICULTURE AIR AVERAGE TARIFF BANK OFFICE BANKING SERVICES BASE YEAR BILATERAL FREE TRADE AGREEMENT CAPITAL STOCK CENTRAL ELASTICITIES CENTRAL ELASTICITY COLLATERAL COLLATERAL REQUIREMENTS COMMON MARKET COMPETITIVENESS CONFIDENCE CONSTANT ELASTICITY OF TRANSFORMATION CONSTANT RETURNS TO SCALE COST STRUCTURE COST STRUCTURES COUNTRY OF ORIGIN CREDIT RATING CUSTOMS UNION DEBT DEMAND CURVE DEMAND CURVES DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT ECONOMICS DEVELOPMENT INTENSITY DEVELOPMENT POLICY DOMESTIC MARKET DOMESTIC PRODUCTION DUOPOLY ECONOMIC GEOGRAPHY ECONOMIC INTEGRATION ECONOMIC REFORM ECONOMIC RESEARCH ECONOMIC THEORY ECONOMICS LITERATURE ECONOMIES OF SCALE ELASTICITIES ELASTICITY ELASTICITY OF DEMAND ELASTICITY OF SUBSTITUTION ELASTICITY OF SUPPLY ELASTICITY VALUES EQUILIBRIUM EXCHANGE RATE EXPORT MARKET EXPORT MARKETS EXPORTS EXTERNALITIES EXTERNALITY FACTORS OF PRODUCTION FEDERAL RESERVE FEDERAL RESERVE BANK FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SUPPORT FIRM PERFORMANCE FOREIGN BANKS FOREIGN DIRECT INVESTMENT FOREIGN FIRMS FOREIGN GOODS FOREIGN INVESTMENT FOREIGN INVESTORS FREE ACCESS FREE TRADE FREE TRADE AGREEMENT FREE TRADE AGREEMENTS FREIGHT GDP GENERAL EQUILIBRIUM ANALYSIS GENERAL EQUILIBRIUM MODEL GLOBALIZATION GOVERNMENT REGULATION HOME COUNTRY IMPERFECT COMPETITION INCOME INCREASING RETURNS INCREASING RETURNS TO SCALE INITIATIVE INSURANCE INSURANCE MARKET INTERMEDIATE GOODS INTERMEDIATE INPUTS INTERNATIONAL COMPETITIVENESS INTERNATIONAL ECONOMY INTERNATIONAL NEGOTIATIONS INTERNATIONAL TRADE INVESTMENT BARRIERS LAWS LAWYERS LEGAL SYSTEM LESS DEVELOPED COUNTRIES MARGINAL COST MARGINAL COSTS MARGINAL REVENUE MARKET ACCESS MARKET SHARE MARKET SHARES MOBILE BANKING MONOPOLISTIC COMPETITION MONOPOLY MONOPOLY RENTS MULTILATERAL LIBERALIZATION MULTILATERAL TRADE MULTINATIONAL MULTINATIONAL FIRMS MULTINATIONALS MUTUAL RECOGNITION NATIONAL DEVELOPMENT NONDISCRIMINATORY BARRIERS OPEN ECONOMIES OPEN ECONOMY OPENNESS OPTIMAL TARIFFS PREFERENTIAL PREFERENTIAL AGREEMENT PREFERENTIAL AGREEMENTS PREFERENTIAL REDUCTION PREFERENTIAL TRADE PREFERENTIAL TRADE AGREEMENTS PREFERENTIAL TRADE ARRANGEMENTS PREFERENTIAL TRADE LIBERALIZATION PRICE INDEX PRIMARY FACTORS PRIVATE SECTOR DEVELOPMENT PRODUCT DIFFERENTIATION PRODUCTION FUNCTION PRODUCTIVITY PRODUCTIVITY GROWTH PRODUCTIVITY INCREASES PUBLIC POLICY RAIL RAILWAY RAILWAYS REAL ESTATE REAL EXCHANGE RATE REDUCTION OF BARRIERS REFORM PROGRAM REGIONAL INTEGRATION REGIONAL TRADE REGIONAL TRADE AGREEMENTS REGULATOR REGULATORY BARRIERS REGULATORY ENVIRONMENT REGULATORY REGIME REGULATORY REGIMES REINSURANCE ROAD RULES OF ORIGIN SINGLE MARKET SMALL COUNTRIES SMALL ENTERPRISES SUPPLY CURVE SUPPLY CURVES TARIFF DATA TARIFF EQUIVALENCE TARIFF EQUIVALENTS TARIFF PREFERENCES TARIFF RATE TARIFF RATES TARIFF REDUCTION TARIFF REVENUE TAX TECHNOLOGY TRANSFER TELECOMMUNICATIONS TERMS OF TRADE TERMS OF TRADE EFFECTS THIRD WORLD TOTAL FACTOR PRODUCTIVITY TRADE DATA TRADE DIVERSION TRADE FLOWS TRADE LIBERALIZATION TRADE LOSSES TRADE PARTNERS TRADE POLICIES TRADE POLICY TRANSITION ECONOMIES TRANSMISSION OF KNOWLEDGE TRANSPORT TRANSPORT SERVICES TRANSPORTATION TRANSPORTATION COSTS TRANSPORTATION FACILITIES TRANSPORTATION NETWORK TRANSPORTATION SERVICES TRUE UNILATERAL LIBERALIZATION UNILATERAL REFORM UNSKILLED LABOR URUGUAY ROUND VALUE OF IMPORTS VALUE OF OUTPUT VARIABLE COSTS VEHICLE WEALTH WEALTH CREATION WELFARE ECONOMICS WORLD TRADE WORLD TRADE ORGANIZATION WTO ZERO PROFITS ZERO TARIFFS
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Africa | Sub-Saharan Africa | East Africa | Kenya
2012-03-19T18:00:18Z | 2012-03-19T18:00:18Z | 2011-01-01

Given the growing importance of commitments to foreign investors in services in regional trade agreements, it is important to develop applied general equilibrium models to assess the impacts of liberalization of barriers to multinational service providers. This paper develops a 55 sector applied general equilibrium model of Kenya with foreign direct investment and Dixit-Stiglitz productivity effects from additional varieties of imperfectly competitive goods or services, and uses the model to assess its regional and multilateral trade options, focusing on commitments to foreign investors in services. To assess the sensitivity of the results to parameter values, the model is executed 30,000 times, and results are reported as confidence intervals of the sample distributions. The analysis reveals that a 50 percent preferential reduction in the ad valorem equivalents of barriers in all business services by Kenya with its African partners would be somewhat beneficial for Kenya. If a preferential agreement with African partners is combined with an agreement with the European Union, the gains would more than triple the gains of an Africa only agreement. Multilateral reduction of services barriers, however, would yield gains about 12 times the gains of an agreement with the Africa region alone. These results suggest that preferential liberalization in the region is a valuable first step, but wider liberalization, with larger partners and liberal rules of origin or multilaterally, will yield much larger gains due to providing access to a much wider set of services providers. The largest gains would come from domestic regulatory reform in services, as this would almost triple the gains of multilateral liberalization.

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