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Ad valorem equivalents of non-tariff measures in ASEAN

Ad valorem equivalents of non-tariff measures in ASEAN
Date:
2 October 2017
Category:
ASEAN, Trade
Authors:
Lili Yan Ing, Olivier Cadot
Tags:
International Trade, non-tariff measures, Trade

Print Article:

To measure Ad valorem tariff equivalents (AVEs) of non-tariff measures (NTMs), we propose a new alternative that relies on the estimation of bilateral trade flows on two-way panels at the HS 2-digit level with importer, exporter, and product fixed effects and interaction terms between NTM variables and a full vector of country-specific characters. Our results show AVEs for technical barriers to trade measures on manufactured products, for ASEAN countries and the whole sample are 4.5% and 5%, respectively. The AVEs for sanitary and phytosanitary measures on agricultural and food products for ASEAN countries and the whole sample are 6.5% and 6.7%, respectively. It should be noted that AVEs can mean very different things depending on whether they play as correction of a market failure. This depends on the technical capabilities of domestic regulatory agencies.

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