The Economic Community of West African States : Fiscal Revenue Implications of the Prospective Economic Partnership Agreement with the European Union

This paper applies a partial equilibrium model to analyze the fiscal revenue implications of the prospective economic partnership agreement between the Economic Community of West African States (ECOWAS) and the European Union. The authors find that...

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Main Authors: Zouhon-Bi, Simplice G., Nielsen, Lynge
Format: Policy Research Working Paper
Language:English
Published: World Bank, Washington, DC 2012
Subjects:
GDP
WTO
Online Access:http://documents.worldbank.org/curated/en/2007/06/7745702/economic-community-west-african-states-fiscal-revenue-implications-prospective-economic-partnership-agreement-european-union
http://hdl.handle.net/10986/7445
id okr-10986-7445
recordtype oai_dc
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic AD VALOREM
AGREEMENT ON TRADE
AGREEMENT ON TRADE-RELATED ASPECTS
AGRICULTURAL PRODUCTS
AGRICULTURE
APPLIED TARIFF
AVERAGE TARIFF
AVERAGE TARIFFS
BASE YEAR
BORDER PROTECTION
CENTRAL BANK
COMMON MARKET
COMPENSATORY MECHANISMS
CURRENCY
CUSTOMS
CUSTOMS ADMINISTRATION
CUSTOMS DUTIES
CUSTOMS REVENUE
CUSTOMS REVENUES
CUSTOMS UNION
DEMAND ELASTICITY
DEVELOPMENT
DISPUTE SETTLEMENT
DISPUTE SETTLEMENT MECHANISM
DOMESTIC PRICE
DOMESTIC PRODUCTION
ECONOMIC INTEGRATION
ECONOMIC OBJECTIVES
ECONOMIC PERFORMANCE
ECONOMIC PROGRESS
ECONOMIC SIZE
ELASTICITY OF SUBSTITUTION
ELIMINATION OF TARIFFS
EQUILIBRIUM
EUROPEAN UNION
EXCHANGE RATE
EXPORT PERFORMANCE
EXPORT PRICE
EXPORTERS
EXPORTS
EXTERNAL TARIFF
FOREIGN INVESTMENT
FREE ACCESS
FREE TRADE
FREE TRADE AGREEMENT
FREE TRADE AREA
FULL LIBERALIZATION
GDP
GENERAL AGREEMENT ON TARIFFS
GENERAL AGREEMENT ON TRADE IN SERVICES
GENERAL EQUILIBRIUM ANALYSIS
GENERAL EQUILIBRIUM MODEL
GLOBAL INTEGRATION
GROSS DOMESTIC PRODUCT
IMPERFECT SUBSTITUTES
IMPORT DUTIES
IMPORT PRICE
IMPORT PRICES
IMPORT REGIME
IMPORT TARIFF
IMPORT TAXES
IMPORTING COUNTRIES
INDUSTRIAL PRODUCTS
INTELLECTUAL PROPERTY
INTELLECTUAL PROPERTY RIGHTS
INTERNAL MARKET
LDCS
LEVEL OF PROTECTION
LOSS OF TARIFF REVENUE
MACROECONOMIC STABILITY
MARKET ACCESS
MEMBER COUNTRIES
MEMBER COUNTRY
MINISTERIAL CONFERENCE
MONETARY UNIFICATION
MOST FAVORED NATION
NATIONAL AUTHORITIES
NON-TARIFF BARRIERS
OIL IMPORTS
OIL PRICES
PARTIAL EQUILIBRIUM ANALYSIS
POLICY RESEARCH
PREFERENTIAL ACCESS
PREFERENTIAL MARKET ACCESS
PREFERENTIAL TREATMENT
PRICE ELASTICITY
PROPERTY RIGHTS
REGIONAL GROUPINGS
REGIONAL INTEGRATION
REGIONAL TRADE
REGIONAL TRADE AGREEMENTS
RULES OF ORIGIN
SHARE OF WORLD EXPORTS
TARIFF BARRIERS
TARIFF CHANGES
TARIFF DISTORTIONS
TARIFF ELIMINATION
TARIFF LINES
TARIFF PROTECTION
TARIFF RATE
TARIFF RATES
TARIFF REDUCTION
TARIFF REFORM
TARIFF REGIMES
TARIFF REVENUE
TARIFF REVENUES
TARIFF SCHEDULE
TARIFF SCHEDULES
TAX REVENUES
THE GAMBIA
TOTAL REVENUE
TRADE
TRADE AGREEMENT
TRADE AGREEMENTS
TRADE BARRIERS
TRADE CREATION
TRADE DEVELOPMENT
TRADE DIVERSION
TRADE EFFECTS
TRADE FLOW DATA
TRADE FLOWS
TRADE IN GOODS
TRADE LIBERALIZATION
TRADE POLICY
TRADE POLICY REVIEW
TRADE PREFERENCES
TRADE REGIME
TRADE RELATIONS
TRADING PARTNER
TRADING PARTNERS
TRANSITIONAL PERIOD
URUGUAY ROUND
WTO
ZERO TARIFF
spellingShingle AD VALOREM
AGREEMENT ON TRADE
AGREEMENT ON TRADE-RELATED ASPECTS
AGRICULTURAL PRODUCTS
AGRICULTURE
APPLIED TARIFF
AVERAGE TARIFF
AVERAGE TARIFFS
BASE YEAR
BORDER PROTECTION
CENTRAL BANK
COMMON MARKET
COMPENSATORY MECHANISMS
CURRENCY
CUSTOMS
CUSTOMS ADMINISTRATION
CUSTOMS DUTIES
CUSTOMS REVENUE
CUSTOMS REVENUES
CUSTOMS UNION
DEMAND ELASTICITY
DEVELOPMENT
DISPUTE SETTLEMENT
DISPUTE SETTLEMENT MECHANISM
DOMESTIC PRICE
DOMESTIC PRODUCTION
ECONOMIC INTEGRATION
ECONOMIC OBJECTIVES
ECONOMIC PERFORMANCE
ECONOMIC PROGRESS
ECONOMIC SIZE
ELASTICITY OF SUBSTITUTION
ELIMINATION OF TARIFFS
EQUILIBRIUM
EUROPEAN UNION
EXCHANGE RATE
EXPORT PERFORMANCE
EXPORT PRICE
EXPORTERS
EXPORTS
EXTERNAL TARIFF
FOREIGN INVESTMENT
FREE ACCESS
FREE TRADE
FREE TRADE AGREEMENT
FREE TRADE AREA
FULL LIBERALIZATION
GDP
GENERAL AGREEMENT ON TARIFFS
GENERAL AGREEMENT ON TRADE IN SERVICES
GENERAL EQUILIBRIUM ANALYSIS
GENERAL EQUILIBRIUM MODEL
GLOBAL INTEGRATION
GROSS DOMESTIC PRODUCT
IMPERFECT SUBSTITUTES
IMPORT DUTIES
IMPORT PRICE
IMPORT PRICES
IMPORT REGIME
IMPORT TARIFF
IMPORT TAXES
IMPORTING COUNTRIES
INDUSTRIAL PRODUCTS
INTELLECTUAL PROPERTY
INTELLECTUAL PROPERTY RIGHTS
INTERNAL MARKET
LDCS
LEVEL OF PROTECTION
LOSS OF TARIFF REVENUE
MACROECONOMIC STABILITY
MARKET ACCESS
MEMBER COUNTRIES
MEMBER COUNTRY
MINISTERIAL CONFERENCE
MONETARY UNIFICATION
MOST FAVORED NATION
NATIONAL AUTHORITIES
NON-TARIFF BARRIERS
OIL IMPORTS
OIL PRICES
PARTIAL EQUILIBRIUM ANALYSIS
POLICY RESEARCH
PREFERENTIAL ACCESS
PREFERENTIAL MARKET ACCESS
PREFERENTIAL TREATMENT
PRICE ELASTICITY
PROPERTY RIGHTS
REGIONAL GROUPINGS
REGIONAL INTEGRATION
REGIONAL TRADE
REGIONAL TRADE AGREEMENTS
RULES OF ORIGIN
SHARE OF WORLD EXPORTS
TARIFF BARRIERS
TARIFF CHANGES
TARIFF DISTORTIONS
TARIFF ELIMINATION
TARIFF LINES
TARIFF PROTECTION
TARIFF RATE
TARIFF RATES
TARIFF REDUCTION
TARIFF REFORM
TARIFF REGIMES
TARIFF REVENUE
TARIFF REVENUES
TARIFF SCHEDULE
TARIFF SCHEDULES
TAX REVENUES
THE GAMBIA
TOTAL REVENUE
TRADE
TRADE AGREEMENT
TRADE AGREEMENTS
TRADE BARRIERS
TRADE CREATION
TRADE DEVELOPMENT
TRADE DIVERSION
TRADE EFFECTS
TRADE FLOW DATA
TRADE FLOWS
TRADE IN GOODS
TRADE LIBERALIZATION
TRADE POLICY
TRADE POLICY REVIEW
TRADE PREFERENCES
TRADE REGIME
TRADE RELATIONS
TRADING PARTNER
TRADING PARTNERS
TRANSITIONAL PERIOD
URUGUAY ROUND
WTO
ZERO TARIFF
Zouhon-Bi, Simplice G.
Nielsen, Lynge
The Economic Community of West African States : Fiscal Revenue Implications of the Prospective Economic Partnership Agreement with the European Union
geographic_facet Africa
relation Policy Research Working Paper; No. 4266
description This paper applies a partial equilibrium model to analyze the fiscal revenue implications of the prospective economic partnership agreement between the Economic Community of West African States (ECOWAS) and the European Union. The authors find that, under standard import price and substitution elasticity assumptions, eliminating tariffs on all imports from the European Union would increase ECOWAS' imports from the European Union by 10.5-11.5 percent for selected ECOWAS countries, namely Cape Verde, Ghana, Nigeria, and Senegal. This increase in imports would be accompanied by a 2.4-5.6 percent decrease in total government revenues, owing mainly to lower fiscal revenues. Tariff revenue losses should represent 1 percent of GDP in Nigeria, 1.7 percent in Ghana, 2 percent in Senegal, and 3.6 percent in Cape Verde. However, the revenue losses may be manageable because of several mitigating factors, in particular the likelihood of product exclusions, the length of the agreement's implementation period, and the scope for reform of exemption regimes. The large country-by-country differences in fiscal revenue loss suggest that domestic tax reforms and fiscal transfers within ECOWAS could be important complements to the agreement's implementation.
format Publications & Research :: Policy Research Working Paper
author Zouhon-Bi, Simplice G.
Nielsen, Lynge
author_facet Zouhon-Bi, Simplice G.
Nielsen, Lynge
author_sort Zouhon-Bi, Simplice G.
title The Economic Community of West African States : Fiscal Revenue Implications of the Prospective Economic Partnership Agreement with the European Union
title_short The Economic Community of West African States : Fiscal Revenue Implications of the Prospective Economic Partnership Agreement with the European Union
title_full The Economic Community of West African States : Fiscal Revenue Implications of the Prospective Economic Partnership Agreement with the European Union
title_fullStr The Economic Community of West African States : Fiscal Revenue Implications of the Prospective Economic Partnership Agreement with the European Union
title_full_unstemmed The Economic Community of West African States : Fiscal Revenue Implications of the Prospective Economic Partnership Agreement with the European Union
title_sort economic community of west african states : fiscal revenue implications of the prospective economic partnership agreement with the european union
publisher World Bank, Washington, DC
publishDate 2012
url http://documents.worldbank.org/curated/en/2007/06/7745702/economic-community-west-african-states-fiscal-revenue-implications-prospective-economic-partnership-agreement-european-union
http://hdl.handle.net/10986/7445
_version_ 1764402048302841856
spelling okr-10986-74452021-04-23T14:02:33Z The Economic Community of West African States : Fiscal Revenue Implications of the Prospective Economic Partnership Agreement with the European Union Zouhon-Bi, Simplice G. Nielsen, Lynge AD VALOREM AGREEMENT ON TRADE AGREEMENT ON TRADE-RELATED ASPECTS AGRICULTURAL PRODUCTS AGRICULTURE APPLIED TARIFF AVERAGE TARIFF AVERAGE TARIFFS BASE YEAR BORDER PROTECTION CENTRAL BANK COMMON MARKET COMPENSATORY MECHANISMS CURRENCY CUSTOMS CUSTOMS ADMINISTRATION CUSTOMS DUTIES CUSTOMS REVENUE CUSTOMS REVENUES CUSTOMS UNION DEMAND ELASTICITY DEVELOPMENT DISPUTE SETTLEMENT DISPUTE SETTLEMENT MECHANISM DOMESTIC PRICE DOMESTIC PRODUCTION ECONOMIC INTEGRATION ECONOMIC OBJECTIVES ECONOMIC PERFORMANCE ECONOMIC PROGRESS ECONOMIC SIZE ELASTICITY OF SUBSTITUTION ELIMINATION OF TARIFFS EQUILIBRIUM EUROPEAN UNION EXCHANGE RATE EXPORT PERFORMANCE EXPORT PRICE EXPORTERS EXPORTS EXTERNAL TARIFF FOREIGN INVESTMENT FREE ACCESS FREE TRADE FREE TRADE AGREEMENT FREE TRADE AREA FULL LIBERALIZATION GDP GENERAL AGREEMENT ON TARIFFS GENERAL AGREEMENT ON TRADE IN SERVICES GENERAL EQUILIBRIUM ANALYSIS GENERAL EQUILIBRIUM MODEL GLOBAL INTEGRATION GROSS DOMESTIC PRODUCT IMPERFECT SUBSTITUTES IMPORT DUTIES IMPORT PRICE IMPORT PRICES IMPORT REGIME IMPORT TARIFF IMPORT TAXES IMPORTING COUNTRIES INDUSTRIAL PRODUCTS INTELLECTUAL PROPERTY INTELLECTUAL PROPERTY RIGHTS INTERNAL MARKET LDCS LEVEL OF PROTECTION LOSS OF TARIFF REVENUE MACROECONOMIC STABILITY MARKET ACCESS MEMBER COUNTRIES MEMBER COUNTRY MINISTERIAL CONFERENCE MONETARY UNIFICATION MOST FAVORED NATION NATIONAL AUTHORITIES NON-TARIFF BARRIERS OIL IMPORTS OIL PRICES PARTIAL EQUILIBRIUM ANALYSIS POLICY RESEARCH PREFERENTIAL ACCESS PREFERENTIAL MARKET ACCESS PREFERENTIAL TREATMENT PRICE ELASTICITY PROPERTY RIGHTS REGIONAL GROUPINGS REGIONAL INTEGRATION REGIONAL TRADE REGIONAL TRADE AGREEMENTS RULES OF ORIGIN SHARE OF WORLD EXPORTS TARIFF BARRIERS TARIFF CHANGES TARIFF DISTORTIONS TARIFF ELIMINATION TARIFF LINES TARIFF PROTECTION TARIFF RATE TARIFF RATES TARIFF REDUCTION TARIFF REFORM TARIFF REGIMES TARIFF REVENUE TARIFF REVENUES TARIFF SCHEDULE TARIFF SCHEDULES TAX REVENUES THE GAMBIA TOTAL REVENUE TRADE TRADE AGREEMENT TRADE AGREEMENTS TRADE BARRIERS TRADE CREATION TRADE DEVELOPMENT TRADE DIVERSION TRADE EFFECTS TRADE FLOW DATA TRADE FLOWS TRADE IN GOODS TRADE LIBERALIZATION TRADE POLICY TRADE POLICY REVIEW TRADE PREFERENCES TRADE REGIME TRADE RELATIONS TRADING PARTNER TRADING PARTNERS TRANSITIONAL PERIOD URUGUAY ROUND WTO ZERO TARIFF This paper applies a partial equilibrium model to analyze the fiscal revenue implications of the prospective economic partnership agreement between the Economic Community of West African States (ECOWAS) and the European Union. The authors find that, under standard import price and substitution elasticity assumptions, eliminating tariffs on all imports from the European Union would increase ECOWAS' imports from the European Union by 10.5-11.5 percent for selected ECOWAS countries, namely Cape Verde, Ghana, Nigeria, and Senegal. This increase in imports would be accompanied by a 2.4-5.6 percent decrease in total government revenues, owing mainly to lower fiscal revenues. Tariff revenue losses should represent 1 percent of GDP in Nigeria, 1.7 percent in Ghana, 2 percent in Senegal, and 3.6 percent in Cape Verde. However, the revenue losses may be manageable because of several mitigating factors, in particular the likelihood of product exclusions, the length of the agreement's implementation period, and the scope for reform of exemption regimes. The large country-by-country differences in fiscal revenue loss suggest that domestic tax reforms and fiscal transfers within ECOWAS could be important complements to the agreement's implementation. 2012-06-07T19:32:15Z 2012-06-07T19:32:15Z 2007-06 http://documents.worldbank.org/curated/en/2007/06/7745702/economic-community-west-african-states-fiscal-revenue-implications-prospective-economic-partnership-agreement-european-union http://hdl.handle.net/10986/7445 English Policy Research Working Paper; No. 4266 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research Africa