Sustainable urban infrastructure
S.Sh. Hossain; H. Delin; M. Mingying
Abstract
BACKGROUND AND OBJECTIVES: Tariff policy has a significant impact on a country's economic progress. The primary objective of this paper was to describe the construction of the Computable General Equilibrium (CGE) model and then analyze the economic impacts among simulated countries by introducing policy ...
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BACKGROUND AND OBJECTIVES: Tariff policy has a significant impact on a country's economic progress. The primary objective of this paper was to describe the construction of the Computable General Equilibrium (CGE) model and then analyze the economic impacts among simulated countries by introducing policy shocks like increases and decreases in tariffs. METHODS: Tariff reductions resulted in an increase in intraregional and interregional trade, which is expected to spur long-term investment and economic growth. To examine the economic implications in multiple ways, this article initially used a tariff removal scenario and subsequently increased the tariff. The relationship between production, activity, elements, and other economic sectors of regions was depicted in this paper using a computational general equilibrium model based on the global trade analysis project model. FINDINGS: The simulation resulted in a lower tariff having a beneficial influence on Korea's economic growth compared to other countries. In the agricultural and processed food sectors, Korea's trade balance improved dramatically, with exports and imports continuing high, while exports and imports in the manufacturing and service sectors declined. In contrast to other countries, Korea's processed food output surged by 198%. Finally, in comparison to other countries, Korea's welfare grew by $ US currency 17.56 billion. On the other hand, the trade balance between China and the United States fell by $US currency 6.25 billion and $US currency 7.95 billion, respectively. Korea's trade balance increased considerably, rising by $ 21.78 billion in US currency. Korea's GDP fell by about 0.8%, while China's dropped by nearly 0.3%. Other countries' gross domestic product changed slightly. CONCLUSION: The influence of various tariff policies on countries is examined in this research paper. Computational general equilibrium analysis of tariff policies in the agriculture, processed food, infrastructure, manufacturing, and service sectors has gotten little attention in the past, so this paper used the Global trade analysis project model to try to fill in the gaps and find the benefits of mutual economic policy among countries.
Sustainable urban infrastructure
S.Sh. Hossain; H. Delin
Abstract
BACKGROUND AND OBJECTIVE: The reduction of tariffs in Public infrastructure sectors is believed to be one of the key factors in addressing the socio-economic challenges of high unemployment, income inequality, and poverty. The primary objective of this paper is to design a general equilibrium model for ...
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BACKGROUND AND OBJECTIVE: The reduction of tariffs in Public infrastructure sectors is believed to be one of the key factors in addressing the socio-economic challenges of high unemployment, income inequality, and poverty. The primary objective of this paper is to design a general equilibrium model for infrastructural sectors among Germany, France, Italy, United Kingdom, China, USA, Australia, Japan and Korea, and evaluate potential economic impact of tariff reduction. METHODS: The research method of this paper was to construct a Computational General Equilibrium model to assess the economic effects. The global trade analysis project model was calibrated and discussed in this paper. The global trade analysis project database was used to validate the model. FINDINGS: Simulation result showed that tariff removal in infrastructure has the most significant effects in China, Japan, and Korea’s economic growth and employment than other countries. Gross Domestic Product, output price, and social welfare increase significantly in China compared to other countries. Gross Domestic Product increases in China by 616%, decreases in Japan and Korea 77% and 7% after mutual tariff reduction on infrastructure sectors. Meanwhile, China’s export on infrastructural sector increases by 1.71%, Japan and Korea’s export increases by 0.75% and 0.05%. On the other hand, export decreases in Germany, France, Italy, UK, USA and Australia. Finally, social welfare increases in China by $2.26 billion and Japan by $239 million. CONCLUSION: The presence of tariff reduction in infrastructure sectors will likely strengthen the market share of most of the simulated regions. These findings may provide policy-makers with crucial information for better understanding about new tariff policy. Computable General Equilibrium analysis in infrastructure sectors had paid little attention in past and this paper tries to fill the gaps and attempts to find the benefit of mutual tariff policy among countries based on global trade analysis project model.
