Econometric Analysis: Effect of Barriers on Trade
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Author(s)
Goerzen, Alexander
Schussler, Brandon
Suriano, Niccolo
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Abstract
In this analysis we seek to investigate the impact of various import tariffs on trade as a percentage
of GDP. Members of the World Trade Organization (WTO) set up defined tariffs to help facilitate trade
with one another. There are specific guidelines for joining, namely the equitable tariff limits that disallow
discrimination among countries. These universal rates allow for a firm investigation into how tariffs affect
trade as percent of GDP, because it assists in diminishing the impact of substitutes among countries that
are not apart of WTO. After regressing the countries’ average weighted tariff to their trade percentage of
GDP it was concluded that there is a negative correlation between a country's import tariff and the amount
of total trade as percent of GDP.
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Date
2016-11
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Text
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Undergraduate Research Paper