This book has two parts. The first part talks about general characteristics of the World Trade Organisation (WTO) as well as common steps that have to be taken during the accession process. Theoretical studies related to the WTO activities are also presented. Finally, Part I of this book discusses one of the most useful methods of examining economic consequences of being WTO member, namely Computable General Equilibrium (CGE) Models. Part II continues analysis and shows application of CGE model to a specific case study.
This is the second part of the book that examines process and possible economic consequences of accession to the WTO. This part considers economic impact of the WTO accession and takes specific country as a case study, namely Ukraine. Computable General Equilibrium model for Ukraine is built and several scenarios are modelled. The facts that Ukraine has sufficiently large economy and accession was finalised quite recently should make it interesting to a wide audience.
So far, economic ﬂuctuations have been predicted almost exclusively through the aggregate infor-
mation conveyed either by i) macro variables (labor market conditions, money, credit, lagged growth),
ii) ﬁnancial indicators (aggregate stock market returns and variances, slope of the yield curve, credit
spreads) or iii) conﬁdence (households or business) indicators.