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POVERTY, VULNERABILITY, AND TRADE POLICY. Edition No. 1
VDM Publishing House, Jan 2009, Pages: 152
Trade policy negotiations increasingly have spurred
ex ante economic quantitative assessments relying on
detailed databases and computable general
equilibrium (CGE) models of the national and global
economies. In spite of the benefits imposed by a
proper model accounting of all sectors and global
consistency, there is some criticism about the use
of the CGE framework mainly because of the lack of
validation and inability to properly capture policy
impact dynamics.
In this book, Ernesto Valenzuela succeeds in
increasing our understanding of the CGE tool to
evaluate trade reform by providing (a) a reality
check of these models’ predictions ? confronting
them with real data, (b) by bridging the knowledge
gap about the impacts of trade reform and commodity
market volatility, and (c) by incorporating
stockholding behavior to handle short-run phenomena.
As a whole, this book should spark the interest of
avid economists to provide more empirical
information about the links between trade policy
measures and the well being of the poorest ? of
which that are more than one billion.
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