Prospects for the Australian Economy and the Impact of the Asian Crisis
Philip D. Adams
Centre of Policy Studies, Monash University
Australian Bulletin of Labour, Vol. 24, No. 4, December 1998.
Estimating the effects of China's accession to the WTO
Yin Hua Mai
Centre of Policy Studies, Monash University, September 2002
To be published in China Embraces the World Market. Forthcoming November 2002.
Abstract
Most of the general equilibrium analyses estimating the effects of China's accession to
the WTO focus on the effects of reducing tariff and non-tariff barriers. However, the
author believes that the major impact of China's accession to the WTO does not come from
tariff reductions. The actual tariff rate, measured by the tariff revenue collected as a
proportion to the value of imports, is low. China's accession to the WTO marks a new era
in China's economic reform when state capital loses its dominance in pillar manufacturing
and services industries, such as iron and steel, petrochemical, automobile, banking,
insurance, and telecommunication. WTO accession is therefore about investment
liberalization or lowering of entry barriers to foreign and domestic private investors
who wish to invest in the pillar industries in China. In analysing the effects of opening
up the pillar industries, this study draws on China's experience in the early 1990s when
state capital withdrew from light manufacturing industries leading to a massive inflow of
foreign direct investment. While tariff-reduction analyses found WTO accession threatens
the health of the pillar manufacturing industries in China, this study concludes the
opposite. Opening up of the pillar industries to non-state capital will bring about
improvement in productivities following the inflow of foreign direct investment into
these industries. WTO accession thus positions China to become an important production
base of not only light manufacturing industries, but also the more capital-intensive
industries.
The effects of foreign students on the Australian economy and its Regions.
Dixon, P.B., Parmenter, B.R., and Rimmer, M.T.
Paper presented at the 27th Conference of Economists, University of Sydney,
Sep 28 - Oct 1, 1998.
CGE models for practical policy analysis: the Australian experience
Dixon, P.B., B.R. Parmenter and Rimmer, M.T.
pp. 56 - 82 in A.Fossati and W. Wiegard (editors)
Policy Evaluation with Computable General Equilibrium Models,
Routledge (forthcoming).
Medium- and long-run consequences for Australia of an APEC free-trade area: CGE
analyses using the GTAP and MONASH models
Philip D. Adams, K.M. Huff, R. McDougall, K.R. Pearson and A.A. Powell
Asia-Pacific Economic Review, Vol. 3 (1997), pp. 19-42
A preliminary version of this paper is available
electronically as Working Paper G-111. .