China's welfare gain from involved mega-regional trade agreements

摘要

This article draw upon a 29-country numerical general equilibrium model with trade cost and endogenous trade imbalance to simulate China's welfare gain from negotiating mega-regional trade agreements (mega-RTAs). We introduce elasticity of substitution distributions instead of normally definite values in the model and generate a distribution of impact results ranging among some specific intervals, which injects a new kind of effect presentation style to existing literature. The results of our article reveal that China will gain from all undergoing negotiation mega-RTAs we mentioned in this article, comparatively Regional Comprehensive Economic Partnership will benefit China the most.