This Selected Issues paper for Algeria analyzes the potential economic impact of Algeria’s Association Agreement with the European Union (AAEU). The paper lays out the major elements of Algeria’s AAEU and makes a comparison with other AAEUs. It discusses the potential economic...

Japan showed strong economic recovery from the crisis. Executive Directors welcomed the development and stressed the need for a strong monetary framework, well-designed fiscal consolidation, and structural reforms. Directors agreed that the Bank of Japan’s monetary framework is well...

The actions proposed here focus on trade integration, substantially increasing exports of the poorest countries and helping them to meet the Millennium Development Goals. As the foundation for these ambitions, we emphasize the role of a secure, open global trading environment—strengthened...

This Selected Issues paper and Statistical Appendix examines banking sector developments in the Republic of Tajikistan. The paper estimates quasi-fiscal activities in the energy sector, and provides an assessment of external sector trade and the need for further trade reform. Developments in the...

Current U.S. trade policy stresses establishing free trade areas (FTAs) with partners spanning the globe. Motivations include enhancing goods and services trade; stimulating investment flows; extending standards on intellectual property rights, labor, and the environment; and addressing...

Regional trade arrangements (RTAs) in Africa have been ineffective in promoting trade and foreign direct investment. Relatively high external trade barriers and low resource complementarity between member countries limit both intra- and extraregional trade. Small market size, poor transport...

The paper evaluates the South Asia Free Trade Agreement (SAFTA) within the global structure of overlapping regional trade agreements (RTAs) using a modified gravity equation. First, it examines the effects of the Trade Liberalization Program which started in 2006. SAFTA would have a minor effect...

This paper examines the effect of the major Canada-U.S. trade agreements on the dynamics of business cycles and productivity in Canada. The North American Free Trade Agreement (NAFTA) and its predecessor, the Canada-U.S. Free Trade Agreement (CUSFTA), have led to a substantial expansion of trade...