Economic Integration in the EuroMed: Current Status and Review of Studies
AbstractThis article draws a picture of the current status of the liberalization process in the Euro-Mediterranean region, and reviews existing studies of this process. Economic integration among the South-Med countries (SMCs) has started in the middle 1990s through intra-regional agreements (GAFTA, Agadir Agreement) and bilateral agreements with the EU. Econometric studies using gravity models generally found important trade creation effects for intra-regional trade, but smaller and asymmetric effects from EU-Med agreements, with an increase of export flows from the EU but no increase of flows in the other direction. Simulations with CGE models shows the main sources of gains (trade creation) and of losses (trade diversion, terms of trade) for SMCs. Studies also suggest that a dismantling of non-tariff barriers and of barriers in services trade could yield substantial gains for SMCs. A table with existing agreements and a picture of economic flows in the region can be found in the annex.
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Bibliographic InfoPaper provided by CEPII research center in its series Working Papers with number 2011-07.
Date of creation: Mar 2011
Date of revision:
REGIONAL INTEGRATION; EUROMED; GRAVITY MODEL; CGEM;
Find related papers by JEL classification:
- F15 - International Economics - - Trade - - - Economic Integration
- F17 - International Economics - - Trade - - - Trade Forecasting and Simulation
- O24 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy
- O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
- O55 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Africa
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-05-07 (All new papers)
- NEP-ARA-2011-05-07 (MENA - Middle East & North Africa)
- NEP-CMP-2011-05-07 (Computational Economics)
- NEP-INT-2011-05-07 (International Trade)
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- Pierluigi Montalbano & Silvia Nenci, 2012.
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