Issues in Trade Liberalization: Timing, Sequencing, Speed and Credibility - Theory and Practice in Korea
The thesis discusses the dynamic effects of trade liberalization on welfare, current account and other macroeconomic variables. It highlights on 1:1e potential intertemporal costs of temporary reform during the transition, and hence focuses on the examination of the main issues raised by these costs: timing (duration), sequencing, speed and credibility of reform. We examine these dynamic issues using intertemporal optimizing frameworks. We first show that both the long-run and the...[Show more]
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