Search results for " Integration"
showing 10 items of 1034 documents
Regional Integration in Trade Theory
2021
Given widespread scepticism in trade economics about the value of RECs comprised of developing countries, the formal theory of regional economic integration is critically examined in four stylized configurations. Based on the overarching logic of trade creation and diversion, the usual diagrammatic treatment of tariff effects is critically discussed in terms of its numerous shortcomings. A single-country and REC-wise diagrammatic treatment of tariffs in the presence of increasing returns is proposed to allow quantitative assessment of the arguably most promising case for South-South RECs. Building on the literature, the cases of full and incomplete specialization within a regional group are…
The Logical Sequence of Regional Economic Integration
2021
Globally, regional economic communities are classified in what is customarily called the linear model of integration. The question arises as to where African RECs stand on a stylized linear path of economic integration and to what extent this model can provide guidance for further integration steps. The factual nonlinearity of the ‘model’ is discussed and the ensuing challenges for economic integration are identified in terms of monetary unions, non-tariff measures/barriers (with a new typology) and harmonization of standards. In a final step, the ‘model’ itself is amended and critically discussed in the light of the question of whether a scheme largely inspired by the European experience c…
Trade Liberalization and Heterogeneous Technology Investments
2015
We propose a trade model where heterogeneous firms decide on a productivity-enhancing technology investment. The model analyzes the impact of multilateral trade liberalization on firm- and industry-level productivity. Freer trade increases the incentives to invest in technology by raising export profits. It also dampens these incentives, however, as profits stemming from domestic sales are reduced. Only exporters benefit from the former positive effect. The shape of the distribution of efficiency draws, the level of trade costs and the technology intensity of the industry are key elements removing the ambiguities regarding the net impact of trade liberalization.
European Union's Competitiveness and Export Performance in Context of EU – Russia Political and Economic Sanctions
2015
Abstract This paper aims to explore performance of European Union's export in context of competitiveness targets enclosed in Europe 2020 strategy. Authors are addressing recent geo-political events regarding EU-Russia political and economic sanctions. Authors evaluate only economic results from sanctions and do not make an analysis of the nature of political sanctions. Paper gives an overview of the European Union trade performance within last 15 years and makes detailed analysis of the trade structure. Further, authors address European Union – Russia trade and nature of the trade. At the end of the article authors evaluate impact of the sanctions that took effect within a last year.
Impact on European Union Studies of the Developing EU Comprehensive Economic and Trade Agreements with Third Countries: The Case of Canada
2015
The EU has signed an agreement in principle for a Comprehensive Economic and Trade Agreement with Canada, the first of its kind for the EU, entering into force in 2015, opening a renewed market access strategy for the EU and has initiated negotiations with the USA.
Sub‐regional integration in the MENA region and the euro‐mediterranean free trade area
1999
The creation of a new Euro‐Mediterranean region in which to build a shared prosperity area requires existing North‐South economic integration to be complemented by South‐South trade liberalization. Trade links among the southern and eastern Mediterranean countries have remained at a very low level. There is room for greater commercial integration, although the scope for an increase in intra‐regional trade volume is limited. Trade liberalization could lead to a relocation of resources according to comparative advantage and to the growth of intra‐industry trade. However, some economic instruments are required both in order to allay political fears and in order to upgrade transport, communicat…
Is full banking integration desirable?
2020
The aim of this paper is to analyze the links between banking integration and economic development for a sample of OECD countries. We measure banking integration considering state-of-the-art indicators that measure not only how open a banking system is but also its degree of connectedness with other banking systems. In a second stage, we plug these indicators in a model of economic growth, also controlling for other relevant variables considered by the economic growth literature. In contrast to previous initiatives, this second stage explicitly takes into account the differing levels of economic development of the countries in our sample, since the benefits of enhanced banking inte- gration…
Trade integration in the European Union: Openness,interconnectedness, and distance
2020
Abstract This article presents a set of indicators to measure regional trade integration, focusing on the case of the European Union. We propose measures of openness, connectedness and integration which are tuned to evaluate not only how these components contribute to the advance of international integration, but also to control for the potential threat posed by the proliferation of regional trade agreements to trade globalization. Although this and related questions have been examined from several perspectives, the present article explicitly attempts to quantify how regional trade agreements either intensify or thwart trade globalization. Results show that the process of trade integration …
Integrated capital shares
2019
In empirical macroeconomics, inter-dependencies between countries are often analysed using cross-country correlations or graphical investigation of time series. This study shows that applying an alternative methodological approach - identification of common unobservable factors and using them as explanatory variables for country-specific time series - indicates a stronger cross-country integration of functional income distributions than the standard methods. The results vary only little between different samples, where both the country and year coverage change. Moreover, the main findings are not sensitive to the way capital depreciation is taken into account. The primary driving factor see…
Differentiated Integration and Disintegration in the EU after Brexit : Risks versus Opportunities
2019
Differentiation is becoming an increasingly salient feature of European integration. The multi‐faceted European crisis and the subsequent Brexit vote (paving the way for a ground‐breaking case of differentiated disintegration) have led scholars and practitioners to think about the consequences of differentiated integration. This article draws on five well‐established models of differentiation experienced by countries both inside and outside the Union: the EEA model; the Danish model of (quasi‐)permanent differentiation; the Swedish model of de facto differentiation; the instrumental model; and the British model of differentiated disintegration. It addresses the different risks and opportuni…