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Defining North American Economic Integration

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  • Robertson, Raymond

Abstract

Understanding the idea of economic integration may be straightforward, but measuring it is not. The academic literature has identified a wide range of measures that capture various aspects of integration. Of these, the four most frequently used measures are product-level prices, factor markets, trade volumes, and product availability. All four are valuable measures that effectively capture different aspects of economic integration. The differences between the measures suggest that some might be more useful in certain contexts than in others. A comparison between the different measures suggests that the last two might generate the most meaningful insights into North American economic integration because conditions in Mexico, a developing country, are quite different than in Canada and the United States. To motivate the different measures of economic integration, the next section of the paper briefly discusses why economic integration is important. As defined above, economic integration is clearly important for growth, which ultimately determines each country’s standard of living. Integration also drives change, which often is difficult and is therefore resisted. These changes directly affect producers and consumers, and therefore it is important to be able to identify the results of measures designed to foster economic integration, like trade agreements. The sections that follow therefore discuss each different measure of integration and what they tell us about integration in North America.

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Bibliographic Info

Paper provided by Farm Foundation in its series North American Agrifood Integration: Situation and Perspectives, May 2004, Cancun, Mexico with number 16732.

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Date of creation: 2004
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Handle: RePEc:ags:ffnaai:16732

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Keywords: Industrial Organization;

References

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  1. Campa, José Manuel & Goldberg, Linda S, 2004. "Exchange Rate Pass-Through into Import Prices," CEPR Discussion Papers 4391, C.E.P.R. Discussion Papers.
  2. David C. Parsley & Shang-Jin Wei, 2001. "Limiting Currency Volatility to Stimulate Goods Market Integration: A Price Based Approach," NBER Working Papers 8468, National Bureau of Economic Research, Inc.
  3. Dani Rodrik & Arvind Subramanian & Francesco Trebbi, 2002. "Institutions Rule: The Primacy of Institutions over Geography and Integration in Economic Development," NBER Working Papers 9305, National Bureau of Economic Research, Inc.
  4. Taylor, Alan M, 2001. "Potential Pitfalls for the Purchasing-Power-Parity Puzzle? Sampling and Specification Biases in Mean-Reversion Tests of the Law of One Price," Econometrica, Econometric Society, vol. 69(2), pages 473-98, March.
  5. Aaron Tornell & Frank Westermann & Lorenzo Martinez, 2004. "Nafta and Mexico Less-than-Steller Performance," UCLA Economics Working Papers 833, UCLA Department of Economics.
  6. Gordon H. Hanson & Raymond Robertson & Antonio Spilimbergo, 2002. "Does Border Enforcement Protect U.S. Workers From Illegal Immigration?," The Review of Economics and Statistics, MIT Press, vol. 84(1), pages 73-92, February.
  7. Jakab, Zoltan M. & Kovacs, Mihaly A. & Oszlay, Andras, 2001. "How Far Has Trade Integration Advanced?: An Analysis of the Actual and Potential Trade of Three Central and Eastern European Countries," Journal of Comparative Economics, Elsevier, vol. 29(2), pages 276-292, June.
  8. Raymond Robertson, 2000. "Wage Shocks and North American Labor-Market Integration," American Economic Review, American Economic Association, vol. 90(4), pages 742-764, September.
  9. Christian Broda & David E. Weinstein, 2006. "Globalization and the Gains from Variety," The Quarterly Journal of Economics, MIT Press, vol. 121(2), pages 541-585, May.
  10. John Beghin & Cheng Fang, 2002. "Protection and Trade Liberalization under Incomplete Market Integration," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(3), pages 768-773.
  11. Ben-David, Dan, 1993. "Equalizing Exchange: Trade Liberalization and Income Convergence," The Quarterly Journal of Economics, MIT Press, vol. 108(3), pages 653-79, August.
  12. Scott Bradford & Robert Z. Lawrence, 2004. "Has Globalization Gone Far Enough: The Costs of Fragmented Markets," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 349.
  13. Robert C. Feenstra & Gordon H. Hanson, 1995. "Foreign Direct Investment and Relative Wages: Evidence from Mexico's Maquiladoras," NBER Working Papers 5122, National Bureau of Economic Research, Inc.
  14. Domberger, Simon, 1987. "Relative Price Variability and Inflation: A Disaggregated Analysis," Journal of Political Economy, University of Chicago Press, vol. 95(3), pages 547-66, June.
  15. Robertson, Raymond, 2003. "Exchange rates and relative wages: evidence from Mexico," The North American Journal of Economics and Finance, Elsevier, vol. 14(1), pages 25-48, March.
  16. Courchene, Thomas J., 2003. "FTA at 15, NAFTA at 10: a Canadian perspective on North American integration," The North American Journal of Economics and Finance, Elsevier, vol. 14(2), pages 263-285, August.
  17. David H. Romer & Jeffrey A. Frankel, 1999. "Does Trade Cause Growth?," American Economic Review, American Economic Association, vol. 89(3), pages 379-399, June.
  18. Maurice Schiff & L. Alan Winters, 2003. "Regional Integration and Development," World Bank Publications, The World Bank, number 15172.
  19. Roberto Alvarez & Raymond Robertson, 2004. "Exposure to foreign markets and plant-level innovation: evidence from Chile and Mexico," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 13(1), pages 57-87.
  20. Berkowitz, Daniel & DeJong, David N., 2003. "Regional integration: an empirical assessment of Russia," Journal of Urban Economics, Elsevier, vol. 53(3), pages 541-559, May.
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Cited by:
  1. Doan, Darcie & Goldstein, Andrew & Zahniser, Steven & Vollrath, Tom & Bolling, Chris, 2005. "North American Integration in Agriculture: A Survey," 2004 NAAMIC Workshop I: North American Agrifood Market Integration: Current Situtation and Perspectives 163851, North American Agrifood Market Integration Consortium (NAAMIC).
  2. Chaddad, Fabio Ribas & Aguillar, Patricia & Jank, Marcos Sawaya, 2005. "Agrifood Market Integration: Perspectives from Developing Countries," North American Agrifood Market Integration Workshop II: Agrifood Regulatory and Policy Integration under Stress, May 2005, San Antonio, Texas 17996, Farm Foundation.
  3. Caswell, Julie A. & Sparling, David, 2004. "Risk Management in the Integrated NAFTA Market: Lessons from the Case of BSE," 2004 NAAMIC Workshop I: North American Agrifood Market Integration: Current Situtation and Perspectives 163850, North American Agrifood Market Integration Consortium (NAAMIC).
  4. Susanto, Dwi & Rosson, C. Parr, III & Adcock, Flynn J., 2007. "Market Integration in the North American Onion Markets: An Empirical Analysis Using Panel Data," 2007 Annual Meeting, February 4-7, 2007, Mobile, Alabama 34897, Southern Agricultural Economics Association.

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