Table 1 Welfare effects of the RCEP tariff elimination on member countries (%).
From: Regional trade agreement burdens global carbon emissions mitigation
Members | Real wage | Welfare | ||||
|---|---|---|---|---|---|---|
Total | Volume of trade | Terms of trade | ||||
RCEP | RoW | RCEP | RoW | |||
Australia | 0.3 | 0.2 | 0.0 | 0.0 | 0.1 | 0.1 |
China | 0.4 | 0.4 | 0.2 | 0.0 | 0.1 | 0.1 |
Japan | 0.3 | 0.3 | 0.1 | 0.0 | 0.1 | 0.1 |
South Korea | 2.4 | 3.3 | 4.5 | −0.5 | −0.4 | −0.3 |
New Zealand | 0.4 | 0.5 | 0.0 | 0.0 | 0.3 | 0.2 |
ASEAN member | ||||||
 Brunei | 0.5 | 0.6 | 0.0 | 0.0 | 0.5 | 0.1 |
 Cambodia | 11.9 | 8.5 | 5.1 | −0.5 | 1.8 | 2.1 |
 Indonesia | 0.9 | 0.8 | 0.4 | 0.0 | 0.2 | 0.2 |
 Malaysia | 4.7 | 1.3 | 1.2 | −0.1 | 0.1 | 0.1 |
 Philippines | 2.0 | 0.5 | 0.4 | 0.0 | 0.0 | 0.1 |
 Singapore | 3.5 | 3.8 | 0.0 | 0.0 | 1.7 | 2.1 |
 Thailand | 3.2 | 1.8 | 2.5 | −0.2 | −0.4 | −0.1 |
 Vietnam | 5.6 | 15.6 | 10.2 | −0.4 | 3.1 | 2.7 |
