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Market Integration, Regionalism and the Global Economy - Richard E. Baldwin

Market Integration, Regionalism and the Global Economy

By: Richard E. Baldwin (Editor), Daniel Cohen (Editor), Andre Sapir (Editor), Anthony J. Venables (Editor)

Paperback Published: 25th October 1999
ISBN: 9780521645898
Number Of Pages: 368

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This is a study of the nature and the policy implications of changes in the global economy in relationship to the process of regional integration, using the newest techniques of economic analysis. The principal message drawn from these analytical and policy insights is that in a world characterized by trade distortions and nonlinearities, regional integration may or may not foster global integration, and may or may not advance regional or global convergence. The key is good economic policy based on sound economic analysis.

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'This book is aimed at specialists. Its objective is to contribute to the study of the nature and policy implications of changes taking place in the 'global' economy in relation to trends in international economic integration. ... [It] book will be used by specialists and graduate students as a part of the literature on international economic integration and globalization.' Miroslav N. Jovanovic UN Economic Commission for Europe, Geneva

List of figuresp. xi
List of tablesp. xiii
Prefacep. xv
Acknowledgementsp. xvii
List of conference participantsp. xviii
Introductionp. 1
Regionalism and the Global Economyp. 5
Regionalism vs. multilateralismp. 7
Introductionp. 7
Definitions and classificationsp. 8
Models of tariff regimesp. 11
What the evidence suggestsp. 34
Finalep. 40
And index of multilateralism?p. 42
Discussionp. 49
Preferential agreements and the multilateral trading systemp. 53
Introductionp. 53
Reciprocityp. 56
Reciprocity and non-discriminationp. 65
Preferential agreementsp. 71
Enforcementp. 72
Conclusionsp. 76
Discussionp. 79
Politics and trade policyp. 86
Introductionp. 86
Political economy approachesp. 87
Double-edged diplomacyp. 103
Discussionp. 113
Globalisation and labour, or: if globalisation is a bowl of cherries, why are there so many glum faces around the table?p. 117
Introductionp. 117
Trade and wagesp. 120
The consequences of increased international mobility by firms for the rent-sharing bargainp. 124
Trade and labour standardsp. 128
Quantifying labour standards and their consequencesp. 132
Trade, external risk and the role of governmentp. 141
Conclusionsp. 146
Discussionp. 150
Openness and wage inequality in developing countries: the Latin American challenge to East Asian conventional wisdomp. 153
Heckscher-Ohlin theoryp. 153
Overview of empirical evidencep. 158
Differences between East Asia and Latin Americap. 167
Differences between 1960s-1970s and 1980s-1990sp. 169
Summary and conclusionsp. 175
Discussionp. 181
Greater international mobility of capitalp. 182
Discriminatory trade liberalisationp. 183
Perverse trade-policy effectsp. 183
Market Integration and Regionalismp. 185
Operationalising the theory of optimum currency areasp. 187
Introductionp. 187
A review of theory and empiricsp. 188
New evidence: German unification and economic integrationp. 198
Conclusionp. 208
Discussionp. 216
Introductionp. 216
Some shortcomings in the operationalisation of OCA theoryp. 217
Dynamic interactions between economic integration and monetary integration: are they already perverse?p. 222
European migrants: an endangered species?p. 228
Introductionp. 228
The fall in intra-European mobilityp. 230
Migration and migration intentions in Italy and Spainp. 235
Job-search and job-mobility attitudesp. 243
Economic integration and labour mobilityp. 245
Conclusionsp. 247
Discussionp. 251
Geography and specialisation: industrial belts on a circular plainp. 254
Introductionp. 254
Overview of the modelp. 256
Centre vs. peripheryp. 259
Industries differing in trade costsp. 260
Industrial linkagesp. 262
Alternative input-output structuresp. 265
Implications and conclusionsp. 267
The modelp. 269
Discussionp. 273
Convergence ... an overviewp. 275
Introductionp. 275
What the data sayp. 276
Endogenous vs. exogenous growth theoriesp. 278
Relaxing neoclassical assumptionsp. 281
Economic integration and income distributionp. 283
Conclusionsp. 291
Discussionp. 295
Convergence as distribution dynamics (with or without growth)p. 298
Introductionp. 298
Theoretical modelsp. 300
Empiricsp. 313
Conclusionsp. 323
Discussionp. 328
Can we study convergence without addressing the distribution question?p. 328
The proposed empirical frameworkp. 329
What can we potentially learn?p. 330
Convergencep. 331
Inferencep. 332
An alternative frameworkp. 333
Indexp. 337
Table of Contents provided by Syndetics. All Rights Reserved.

ISBN: 9780521645898
ISBN-10: 0521645891
Audience: Professional
Format: Paperback
Language: English
Number Of Pages: 368
Published: 25th October 1999
Country of Publication: GB
Dimensions (cm): 22.78 x 15.29  x 2.44
Weight (kg): 0.59