The Economic Principles of European Integration

By Stephen Frank Overturf | Go to book overview

CHAPTER 1
History of European Economic Integration

The phrase economic integration has only fairly recently been used to denote the combination of separate economies into larger groupings. As such, its use in practice seems to refer either to the state of being integrated or to the process of achieving that state, and more than occasionally to both at the same time. In other words, reference to European integration may apply to the exact degree of economic integration that has been achieved (state of affairs), while also implying that this is merely one stage in a movement toward greater integration (process).

The word degree, in fact, may be useful in denoting both the present state of affairs and a stage in progress toward greater economic unification. There seems to be some agreement that full economic integration would imply the greatest possible division of labor, the fullest possible mobility of factors, and the least possible discrimination within the grouping. Movement toward this state may take place by various forms, or degrees, of unification, including international trade integration, factor integration, and policy integration, probably in that order. Greater freedom of trade between states, for example, may be both a form of integration and a prerequisite for even greater integration (e.g., through a freer movement of labor and capital).

Although the measurement of the exact degree of integration is, at least conceptually, best achieved by examination of the effects of integration (e.g., through the equalization of product or factor prices), it is possible to apply this concept of degrees of integration to the establishment of the conditions under which greater unification may occur. This is what is typically done, in any case, as shown by the various terms that apply to greater degrees, or forms, of economic integration.

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The Economic Principles of European Integration
Table of contents

Table of contents

  • Title Page iii
  • Contents vii
  • Preface xi
  • Acknowledgments xiii
  • Chapter 1 History of European Economic Integration 1
  • Chapter 2 Community Institutions 15
  • Chapter3 Customs Union Theory 21
  • Chapter 4 Factor Mobility and Tax Harmonization 35
  • Chapter 5 Monetary Union 46
  • Conclusion 59
  • Chapter 6 Industrial Policy 61
  • Chapter 7 Common Agricultural Policy 75
  • Conclusion 87
  • Chapter 8 Trade Relations: Developing Countries 89
  • Conclusion 101
  • Chapter 9 Trade Relations: More Developed Countries 102
  • Chapter 10 Regional Policy 118
  • Chapter 11 Social Policy 134
  • Conclusion 144
  • Appendix Treaty Establishing the European Economic Community 147
  • Bibliography 167
  • Index 169
  • About the Author 173
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