Assessing the Impact of WTO Accession on Belarus : A Quantitative Evaluation

As a small and open economy, Belarus' development perspectives are intrinsically linked to its ability to produce and sell goods and services competitively in the global marketplace. While Belarus is an open economy, its trade links are concentrated both in terms of products and markets. Mineral goods –most importantly refined oil and potassium chloride - are the main export product accounting for more than 1/3 of total exports. Non mineral exports, including most importantly machinery, vehicles and transport equipment are mostly exported to Russia and other CIS markets, which account for 74 percent of non-mineral exports while the share of EU countries in Belarus non-mineral exports account for less than 15 percent. With Russia's WTO accession in 2012 competitive pressures on Belarus’ major market for non-mineral exports have further intensified. As Belarus is accelerating its own negotiations with the WTO, understanding the challenges and opportunities faced by the country's exporters is critical to putting in place an effective adaptation strategy that will enhance competitiveness and ensure Belarus can take full advantage of more open market access. The objective of this note is to analyze the economic impacts of Belarus' potential accession to the WTO. The note utilizes a modern computable general equilibrium model of the economy of Belarus to simulate impacts on the economy as a whole and on individual sectors.

Bibliographic Details

Main Author:	World Bank
Format:	Report biblioteca
Language:	English en_US
Published:	World Bank, Washington, DC 2016-06
Subjects:	RENT SEEKING, AUTOMOBILE, TRANSPORT SECTOR, ELASTICITY VALUE, WORLD TRADE ORGANIZATION, PRODUCTION, ELASTICITY OF SUPPLY, ENVIRONMENTAL PROTECTION, PRICE INCREASES, VARIABLE COSTS, AIR SERVICES, AIRPORT, STOCK, INCOME, PERFECT COMPETITION, AIR ROUTES, VEHICLES, MARGINAL COST, TRADE BARRIERS, ELASTICITY OF DEMAND, EXPORTS, ELASTICITY, DEMAND ELASTICITIES, WELFARE, SUPPLY CURVES, RAIL TRANSPORTATION, ECONOMIC IMPLICATIONS, INCENTIVES, DISTRIBUTION, EQUILIBRIUM, VARIABLES, TRADE REFORMS, ASYMMETRIC INFORMATION, MARGINAL PRODUCTIVITY, SUBSIDY, CARRIERS, TRAFFIC, AIRLINE COMPANIES, TAX, REAL INCOME, OWNERSHIP, INPUTS, ROUTES, DUMPING, RETURNS TO SCALE, PAYMENTS, WEALTH, SAFETY REGULATIONS, AIR, AGRICULTURAL OUTPUT, FREE TRADE, VALUE OF OUTPUT, TRANSPORT SERVICES, TRENDS, INCREASING RETURNS TO SCALE, DEVELOPMENT, VEHICLE, INFLUENCE, TOTAL FACTOR PRODUCTIVITY, SAVINGS, ROAD, RAIL TRANSPORT, COSTS, TRAINING, DEVELOPMENT ECONOMICS, TELECOMMUNICATIONS, TRANSPORT, RENT, CONSTANT RETURNS TO SCALE, BASE YEAR, PUBLIC SAFETY, PRODUCTIVITY, EXTERNALITIES, MONOPOLY, IMPERFECT COMPETITION, DEMAND CURVES, INCREASING RETURNS, MARKETS, WTO, TRUE, OPEN ECONOMY, TOTAL COSTS, TRADE POLICY, PUBLIC POLICY OBJECTIVES, ELASTICITY OF SUBSTITUTION, TRANSPORT EQUIPMENT, AIR TRAFFIC, INVENTORIES, PARTIAL PRIVATIZATION, AVERAGING, GROSS DOMESTIC PRODUCT, INVENTORY, SUBSIDIES, INJURY, ELASTICITY VALUES, ECONOMIC RESEARCH, INFRASTRUCTURE, TAXES, NATURAL MONOPOLIES, UNEMPLOYMENT, TRAFFIC CONTROL, DEREGULATION, EXTERNALITY, INITIATIVES, PRODUCTIVITY GROWTH, CONSUMPTION, VALUE ADDED, TRAVEL, TRANSPORTATION, INSPECTION, CAPITAL, WAGES, POLICIES, INTERNATIONAL TRADE, TRUCKS, PRODUCTIVITY INCREASES, VALUE, COMPETITIVENESS, ELASTICITIES, PRODUCT DIFFERENTIATION, MACROECONOMICS, DEMAND, MOTOR VEHICLE, AIR TRAFFIC CONTROL, MARGINAL COSTS, MOTOR VEHICLES, ECONOMY, CONSUMERS, AGRICULTURE, DEMAND CURVE, TARIFF BARRIERS, MEASUREMENT, SHARES, RAILWAY, BENCHMARK, ECONOMIC THEORY, TRADE LIBERALIZATION, AIRCRAFT, PRODUCTION FUNCTION, ECONOMICS, MINISTRY OF TRANSPORT, REGULATORY REGIMES, PROFITABILITY, TRADE, RAILWAYS, FOREIGN COMPETITION, AIR TRANSPORT, GDP, GOODS, THEORY, BILATERAL TRADE, MARGINAL REVENUE, INVESTMENT, COMPARATIVE ADVANTAGE, AIRCRAFT TYPES, ADVERSE IMPACT, MONOPOLIES, RAIL, SUPPLY, FUEL, REVENUE, OPEN MARKETS, INVESTMENTS, MONOPOLISTIC COMPETITION, TRANSITION ECONOMIES, TOTAL OUTPUT, PETROLEUM PRODUCTS, AVERAGE PRODUCTIVITY, PROFITS, ROAD TRANSPORT, DIESEL, FINANCIAL SECTOR, SAFETY, LESS DEVELOPED COUNTRIES, TRANSPORTATION SERVICES, TIRES, DEVELOPMENT PERSPECTIVES, HOURS OF OPERATION, INFRASTRUCTURES, PRICES, CONSUMER PROTECTION, BENEFITS, INCOME GROUPS, COMPETITION,
Online Access:	http://documents.worldbank.org/curated/en/2016/06/26482457/assessing-impact-wto-accession-belarus-quantitative-evaluation http://hdl.handle.net/10986/24698
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