Catching Up With Eastern Europe? The European Union's Mediterranean Free Trade Initiative
AbstractThis paper discusses the potential role of a Euro-Mediterranean Agreement (EMA) in helping Middle East and North African governments implement structural economic reforms. The arguments for and against preferential liberalization are summarized, identifying a number of necessary conditions for an EMA to benefit a Mediterranean country. The recently negotiated EMA between Tunisia and the EU is evaluated, using these conditions as criteria. Some doubts are expressed regarding the benefits of an EMA and the extent it will help countries in the region 'catch up' with those in Central and Eastern Europe. Significant supporting and complementary actions are likely to be needed. Key issues in this connection are the regulatory regimes applying to inward foreign direct investment (FDI) and the service sector; a reduction in tariffs applied to the rest of the world; and the imposition of hard budget constraints on state-owned enterprises. These aspects are not subject to disciplines under the EMA.
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Bibliographic InfoPaper provided by Economic Research Forum in its series Working Papers with number 9612.
Date of creation: Apr 1996
Date of revision: Apr 1996
Publication status: Published by The Economic Research Forum (ERF)
Other versions of this item:
- Hoekman, Bernard & Djankov, Simeon, 1996. "Catching up with Eastern Europe? The European Union's Mediterranean free trade initiative," Policy Research Working Paper Series 1562, The World Bank.
- Djankov, Simeon & Hoekman, Bernard, 1995. "Catching Up With Eastern Europe? The European Union's Mediterranean Free Trade Initiative," CEPR Discussion Papers 1300, C.E.P.R. Discussion Papers.
- F14 - International Economics - - Trade - - - Empirical Studies of Trade
- O12 - Economic Development, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
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