Our study extends the literature in two ways. First, we augment the CGE-based quantitative analysis used by the existing studies with qualitative analysis that looks at how well the different FTAs satisfy various theoretical criteria for integration. Second, we use a CGE model that not only captures the usual static effects of FTAs, but also the effects of FTAs on capital accumulation over time. This expanded CGE model takes into account the relationship between trade, investment, and growth.
augment the