Over the past decade, globalization has been a pervasive trend in almost all economies. The word economy is becoming increasingly interdependent, deepening and intensifying international linkages, most notably in trade. As trade expands among nations throughout the world, integration of the Organization for Economic Co-operation and Development (OECD) economies with non-OECD economies has become a salient feature of the global economy.

This study identified the possible long-term effect of APEC's trade liberalization commitments on real GDP and trade across regions, both inside and outside the APEC area, and on employment by production sector in each region using a multiregion, multisector, computational general equilibrium (CGE) model.
One of the key finding from our empirical work is the impacts of trade liberalization and facilitation measures in the APEC region have turned out to be significant at least in direction if not in magnitude, throughout OECD as well as non-OECD economies. In particular, because agricultural liberalization and trade facilitation are incorporated in our experiment, the impact stemming from liberalization in these areas turned out to be substantially important.

Ⅰ. Introduction

Ⅱ. Progress in APEC and Some Challenges
1. The APEC initiatives
2. Issues and prospects

Ⅲ. Literature Review

Ⅳ. The Framework for Analysis
1. Equilibrium concept and data aggregation
2. Calibration of behavioral parameters
3. Treatment of trade-protection policies
4. Experimental designs

Ⅴ. Simulation Results
1. Effects on real GDP
2. Export expansion
3. Structural adjustments

Ⅵ. Conclusion

References

Appendix