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Increased Competition and Completion of the Market in the European Union: Static and Steady State Effects

In: APPLIED TRADE POLICY MODELING IN 16 COUNTRIES Insights and Impacts from World Bank CGE Based Projects

Author

Listed:
  • Glenn W. Harrison
  • Thomas F. Rutherford
  • David G. Tarr

Abstract

We model the effects of completion of the internal market in the European Union on trade, production and market structure. The impetus for change comes from the removal of border costs, as well as increased competition from the greater ability of EU buyers to substitute among the products of different EU producers. In turn, this increased competition arises from the single market program on standards, government procurement, and dynamic learning effects. Removing the border costs results in relatively small welfare gains. Increased competition more than doubles the estimated benefits, and the steady state growth effect more than quadruples the welfare gains.

Suggested Citation

  • Glenn W. Harrison & Thomas F. Rutherford & David G. Tarr, 2014. "Increased Competition and Completion of the Market in the European Union: Static and Steady State Effects," World Scientific Book Chapters, in: APPLIED TRADE POLICY MODELING IN 16 COUNTRIES Insights and Impacts from World Bank CGE Based Projects, chapter 15, pages 361-394, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814551434_0015
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