English, Article, Journal or magazine article edition: The Benefits of Liberalising Product Markets and Reducing Barriers to International Trade and Investment: The Case of the United States and the European Union OECD

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Physical Description
  • preprint
Language
  • English

Edition details

Title
  • The Benefits of Liberalising Product Markets and Reducing Barriers to International Trade and Investment: The Case of the United States and the European Union
Author
  • OECD
Physical Description
  • preprint
Notes
  • This paper provides an assessment of the impact of a package of structural reforms in the European Union and the United States on long-run trade and output gains accruing to OECD countries. The package includes reforms that reduce competition-restraining regulations, cut tariff barriers and ease restrictions on foreign direct investment to “best practice” levels in the OECD area. The analysis, which is based on earlier OECD studies, indicates that such reforms could lead to gains in GDP per capita in both transatlantic areas of up to 3 to 3 ½ per cent. Moreover, due to trade linkages, the benefits of reforms in the United States and the European Union would spread to other OECD countries, with an estimated increase in GDP per capita of up to 1½ per cent. As the analysis is confined to a relatively narrow set of policies and abstracts from potential dynamic effects from reform-induced increase in innovation, the overall gains from broad reforms could be significantly higher than reported in the paper. Les bénéfices de la libéralisation des marchés de produits et de la réduction des barrières aux échanges et aux investissements internationaux : Le cas des Etats-Unis et de l'Union européenneCe document offre une évaluation des réformes globales structurelles en Europe et aux États-Unis sur les échanges et la croissance de long terme dans les pays de l’OCDE. Ces réformes incluent l’ensemble des mesures politiques visant la réduction de la réglementation anti-compétitive, la baisse des barrières tarifaires et des restrictions sur les investissements directs étrangers vers les «meilleures pratiques» observées au sein des pays de l’OCDE. L’analyse, qui s’appuie sur de précédents travaux de l’OCDE, montre que de telles réformes peuvent conduire à une augmentation du PIB par habitant entre 3 et 3 ½ pour cent. De plus, en raison d’effets de transmission via les échanges, le bénéfice des réformes en Europe et aux États-Unis devrait se répandre à l’ensemble des autres pays de l’OCDE conduisant à une augmentation du PIB moyen par habitant de plus de 1 ½ pour cent. Étant donné que l’analyse ne couvre qu’un nombre de mesures spécifiques et exclut les effets dynamiques potentiels de l’innovation, les bénéfices tirés d’un ensemble de reformes beaucoup plus large pourraient bien être plus élevés que ceux reportés dans ce document.
  • international trade, réglementation, regulation, foreign direct investment, investissement direct étranger, commerce international, productivity and growth, productivité et croissance
  • RePEc:oec:ecoaaa:432-en
Language
  • English
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