Title: Impact of the Transatlantic Trade and Investment Partnership (TTIP) on the Economies of Brazil, Russia, India, China and South Africa (BRICS)
Abstract: This paper aims to quantify the potential effects of the Transatlantic Trade and InvestmentPartnership (TTIP) being negotiated between the EU and the U.S. on the economies of Brazil,Russia, India, China and South Africa (BRICS). The BRICS is distinguished by its large,fast-growing economies and significant influence on regional and global affairs. The methodused for this study is the GTAP-FDI model that explicitly takes into account foreign directinvestment (FDI) and foreign commercial presence differentiated by the country of locationand ownership. The main findings of the study are as follows. Only Russia of BRICS isexpected to gain from the TTIP a slight additional increase in the real GDP. Brazil, India,China and South Africa are to be negatively affected, albeit negligible, by the TTIP in termsof economic growth. Korea and the rest of the world (ROW) are to be positively affected bythe TTIP in terms of economic growth. On the other hand, Japan is to be negatively affectedby the TTIP. This implies that the TTIP will be a trade-creating free trade agreement toKorea, Russia and the ROW, while it will be a trade-diverting FTA to Brazil, India, China,South Africa and Japan.
Publication Year: 2016
Publication Date: 2016-02-22
Language: en
Type: article
Indexed In: ['crossref']
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Cited By Count: 1
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