Preferential Liberalization and Its Economy-Wide Effects in Honduras

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dc.creatorMedvedev, Denis
dc.date2012-05-29T18:06:57Z
dc.date2012-05-29T18:06:57Z
dc.date2008-02
dc.date.accessioned2026-07-01T01:21:10Z
dc.descriptionThis paper quantifies the likely benefits of trade and investment liberalization in a small, poor, open economy, using the accession of Honduras to the Dominican Republic-Central American Free Trade Agreement as a case study. The results show that bilateral trade liberalization with the United States is likely to have almost no effect on welfare in Honduras, while the reciprocal removal of protection vis-a-vis the rest of Central America would lead to significantly larger gains. Potential gains from increased net foreign direct investment inflows overwhelm those expected from trade reform alone, particularly if the new foreign direct investment generates productivity spillovers. However, if it is to replace Honduran investment rather than complement domestic capital formation, growth performance is unlikely to improve and may even suffer. The paper's results identify several areas for policy attention by Honduran policy makers to make the Dominican Republic-Central American Free Trade Agreement more development-friendly. These include carefully considering the budgetary implications of trade reform, widening social safety nets to counter the trends toward increasing income inequality, and sequencing the reforms to ensure a close alignment of Honduras' comparative advantage on the regional and global markets.
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dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2008/02/9039020/preferential-liberalization-economy-wide-effects-honduras
dc.identifierhttps://hdl.handle.net/10986/6574
dc.identifierhttps://doi.org/10.1596/1813-9450-4537
dc.identifier.urihttp://hdl.handle.net/123456789/417311
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relationPolicy Research Working Paper; No. 4537
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectADVERSE CONSEQUENCES
dc.subjectADVERSE EFFECTS
dc.subjectAGGREGATE INVESTMENT
dc.subjectAGRICULTURAL COMMODITIES
dc.subjectAGRICULTURAL PRODUCTS
dc.subjectAGRICULTURE
dc.subjectANNUAL GROWTH
dc.subjectAPPAREL
dc.subjectAVERAGE TARIFF
dc.subjectAVERAGE TARIFFS
dc.subjectBALANCE OF PAYMENT
dc.subjectBALANCE OF PAYMENTS
dc.subjectBALANCE OF PAYMENTS CONSTRAINT
dc.subjectBASE YEAR
dc.subjectBENCHMARK
dc.subjectBILATERAL AGREEMENT
dc.subjectBILATERAL TRADE
dc.subjectCAPACITY BUILDING
dc.subjectCAPITAL ACCUMULATION
dc.subjectCAPITAL FORMATION
dc.subjectCAPITAL INCOME
dc.subjectCAPITAL INFLOWS
dc.subjectCAPITAL STOCK
dc.subjectCAPITAL STOCKS
dc.subjectCENTRAL BANK
dc.subjectCOMMODITY PRICE
dc.subjectCOMMON MARKET
dc.subjectCOMPARATIVE ADVANTAGE
dc.subjectCONCESSIONS
dc.subjectCONSTANT ELASTICITY OF SUBSTITUTION
dc.subjectCONSTANT ELASTICITY OF TRANSFORMATION
dc.subjectCONSTANT RETURNS TO SCALE
dc.subjectCONSUMER PREFERENCES
dc.subjectCONSUMER SURPLUS
dc.subjectCONSUMERS
dc.subjectCONSUMPTION BASKET
dc.subjectCONSUMPTION LEVELS
dc.subjectCURRENT ACCOUNT
dc.subjectCURRENT ACCOUNT BALANCE
dc.subjectDEBT
dc.subjectDEBT SERVICE
dc.subjectDEMAND CURVE
dc.subjectDEMAND GROWTH
dc.subjectDEMAND SHOCKS
dc.subjectDEPENDENT VARIABLE
dc.subjectDISPOSABLE INCOME
dc.subjectDISPOSABLE INCOMES
dc.subjectDISPUTE SETTLEMENT
dc.subjectDOMESTIC CONSUMPTION
dc.subjectDOMESTIC DEMAND
dc.subjectDOMESTIC GOODS
dc.subjectDOMESTIC PRICE
dc.subjectDOMESTIC PRICES
dc.subjectDOMESTIC PRODUCERS
dc.subjectECONOMIC IMPLICATIONS
dc.subjectELASTICITY
dc.subjectELASTICITY OF SUBSTITUTION
dc.subjectEQUILIBRIA
dc.subjectEXPANSION OF EXPORTS
dc.subjectEXPENDITURE FUNCTION
dc.subjectEXPORT GROWTH
dc.subjectEXPORT MARKETS
dc.subjectEXPORT ORIENTATION
dc.subjectEXPORT PRICES
dc.subjectEXPORT SHARES
dc.subjectEXPORT SUPPLY
dc.subjectEXPORT VOLUME
dc.subjectEXPORT VOLUMES
dc.subjectEXPORTER
dc.subjectEXPORTERS
dc.subjectEXPORTS
dc.subjectEXTERNAL DEBT
dc.subjectEXTERNAL PROTECTION
dc.subjectFACTOR MARKETS
dc.subjectFISCAL DEFICIT
dc.subjectFOOD PRICES
dc.subjectFORECASTS
dc.subjectFOREIGN CAPITAL
dc.subjectFOREIGN DEBT
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFREE ACCESS
dc.subjectFREE TRADE
dc.subjectFREE TRADE AGREEMENT
dc.subjectFULL LIBERALIZATION
dc.subjectFULL TRADE LIBERALIZATION
dc.subjectGDP
dc.subjectGDP PER CAPITA
dc.subjectGENERAL EQUILIBRIUM
dc.subjectGENERALIZED SYSTEM OF PREFERENCES
dc.subjectGLOBAL DEMAND
dc.subjectGLOBAL MARKET
dc.subjectGLOBAL MARKETS
dc.subjectGNP
dc.subjectGOVERNMENT BONDS
dc.subjectGROWTH PERFORMANCE
dc.subjectGROWTH PROJECTIONS
dc.subjectGROWTH RATE
dc.subjectGROWTH RATES
dc.subjectIMBALANCES
dc.subjectIMPERFECT COMPETITION
dc.subjectIMPORT
dc.subjectIMPORT COMPETITION
dc.subjectIMPORT CONTENT
dc.subjectIMPORT DEMAND
dc.subjectIMPORT PRICES
dc.subjectIMPORT QUOTAS
dc.subjectIMPORT TARIFFS
dc.subjectIMPORTS
dc.subjectINCOME
dc.subjectINCOME ELASTICITIES
dc.subjectINCOME ELASTICITY
dc.subjectINCOME ELASTICITY OF DEMAND
dc.subjectINCOME GROWTH
dc.subjectINCREASING RETURNS
dc.subjectINCREASING RETURNS TO SCALE
dc.subjectINTERMEDIATE GOODS
dc.subjectINTERMEDIATE INPUTS
dc.subjectINTERNATIONAL CAPITAL FLOWS
dc.subjectINTERNATIONAL FINANCIAL STATISTICS
dc.subjectINTERNATIONAL TRADE
dc.subjectINVENTORIES
dc.subjectINVESTMENT CLIMATE
dc.subjectINVESTMENT DEMAND
dc.subjectINVESTMENT GOODS
dc.subjectINVESTMENT INFLOWS
dc.subjectINVESTMENT LIBERALIZATION
dc.subjectINVESTMENT SPENDING
dc.subjectLABOR FORCE
dc.subjectLABOR MARKET
dc.subjectLABOR MARKET SEGMENTATION
dc.subjectLABOR MARKETS
dc.subjectLIBERALIZATION OF TRADE
dc.subjectLOST TARIFF REVENUE
dc.subjectLOW TARIFF
dc.subjectMACROECONOMIC EFFECTS
dc.subjectMACROECONOMIC VARIABLES
dc.subjectMARGINAL PROPENSITY TO SAVE
dc.subjectMARKET ACCESS
dc.subjectMARKET SHARE
dc.subjectMONOPOLISTIC COMPETITION
dc.subjectMULTILATERAL LIBERALIZATION
dc.subjectMULTILATERAL TRADE
dc.subjectNATURAL RESOURCES
dc.subjectNEOCLASSICAL MODELS
dc.subjectOPEN ECONOMY
dc.subjectOPTIMIZATION
dc.subjectPREFERENTIAL TRADE
dc.subjectPRICE FLUCTUATIONS
dc.subjectPRICE INDEX
dc.subjectPRIVATE CAPITAL
dc.subjectPRIVATE CONSUMPTION
dc.subjectPRIVATE INVESTMENT
dc.subjectPRODUCTIVITY
dc.subjectPRODUCTIVITY GROWTH
dc.subjectPROTECTION DATA
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC EXPENDITURE
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC SPENDING
dc.subjectRATE OF GROWTH
dc.subjectREAL EXCHANGE RATE
dc.subjectREAL GDP
dc.subjectREGULATORY FRAMEWORKS
dc.subjectRELATIVE PRICE
dc.subjectRELATIVE PRICES
dc.subjectREMITTANCE
dc.subjectREMITTANCES
dc.subjectSAFETY NETS
dc.subjectSHORTFALL
dc.subjectSUPPLY SIDE
dc.subjectTARIFF BARRIERS
dc.subjectTARIFF DATA
dc.subjectTARIFF RATE
dc.subjectTARIFF RATES
dc.subjectTARIFF REDUCTION
dc.subjectTARIFF REDUCTIONS
dc.subjectTARIFF REVENUES
dc.subjectTARIFFS ON IMPORTS
dc.subjectTECHNICAL ASSISTANCE
dc.subjectTEXTILE TARIFF
dc.subjectTOTAL DEBT
dc.subjectTOTAL EXPORTS
dc.subjectTOTAL FACTOR PRODUCTIVITY
dc.subjectTOTAL IMPORTS
dc.subjectTOTAL INVESTMENT
dc.subjectTOTAL OUTPUT
dc.subjectTRADE BARRIERS
dc.subjectTRADE DIVERSION
dc.subjectTRADE FACILITATION
dc.subjectTRADE LIBERALIZATION
dc.subjectTRADE POLICY
dc.subjectTRADE REFORM
dc.subjectTRADING PARTNER
dc.subjectTRADING PARTNERS
dc.subjectTRANSITION MATRIX
dc.subjectUNCERTAINTIES
dc.subjectUNCERTAINTY
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT RATE
dc.subjectUNILATERAL LIBERALIZATION
dc.subjectUNSKILLED LABOR
dc.subjectUNSKILLED WORKERS
dc.subjectURUGUAY ROUND
dc.subjectUTILITY FUNCTION
dc.subjectUTILITY FUNCTIONS
dc.subjectVALUE ADDED
dc.subjectWAGE DIFFERENTIALS
dc.subjectWAGES
dc.subjectWEIGHTS
dc.subjectWELFARE GAINS
dc.subjectWORLD MARKET
dc.subjectWORLD PRICE
dc.subjectWORLD PRICES
dc.subjectWTO
dc.subjectZERO TARIFF
dc.titlePreferential Liberalization and Its Economy-Wide Effects in Honduras

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