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Product Markets and 1992: Full Integration, Large Gains?

Author

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  • Harry Flam

Abstract

The goal of the '"1992" program is to complete by January 1, 1993, what the European Community set out to do in 1957: create a common market with a free flow of goods, services, labor, and capital. If the program is completed, the twelve member countries of the Community will form a common market larger than the United States, both in terms of population and gross domestic product (GDP). The renewed efforts have fuelled high expectations among the participants, and led to apprehension among many onlookers. Will "1992" bring the full integration and substantial benefits that are expected? Do countries outside the European Community have reason to fear "1992" or will they also benefit?

Suggested Citation

  • Harry Flam, 1992. "Product Markets and 1992: Full Integration, Large Gains?," Journal of Economic Perspectives, American Economic Association, vol. 6(4), pages 7-30, Fall.
  • Handle: RePEc:aea:jecper:v:6:y:1992:i:4:p:7-30
    Note: DOI: 10.1257/jep.6.4.7
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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.6.4.7
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Jayatilleke S. Bandara & Wusheng Yu, 2007. "Agricultural trade liberalization in the Asia-Pacific region with specific reference to preferential trade agreements - scenario and impact analysis," STUDIES IN TRADE AND INVESTMENT,in: Studies in Trade and Investment - AGRICULTURAL TRADE - PLANTING THE SEEDS OF REGIONAL LIBERALIZATION IN ASIA, volume 60, pages 131-162 United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
    2. Peter Lloyd, 2010. "Global Economic Integration," Pacific Economic Review, Wiley Blackwell, vol. 15(1), pages 71-86, February.
    3. Elhanan Helpman, 1995. "Politics and Trade Policy," NBER Working Papers 5309, National Bureau of Economic Research, Inc.
    4. Caniels, Marjolelein & Verspagen, Bart, 1999. "The Effects of economic integration on regional growth, an evolutionary model," ERSA conference papers ersa99pa219, European Regional Science Association.
    5. Oscar Bajo-Rubio & Carmen Díaz-Roldán & Antonio G. Gómez-Plana, 2015. "Price-cost Margins and Economic Integration: How Important is the Pro-competitive Effect?," The World Economy, Wiley Blackwell, vol. 38(5), pages 893-898, May.
    6. Mario J. Crucini & Chris I. Telmer & Marios Zachariadis, 2005. "Understanding European Real Exchange Rates," American Economic Review, American Economic Association, vol. 95(3), pages 724-738, June.
    7. Bajo-Rubio, Oscar & Gomez-Plana, Antonio G., 2005. "Simulating the effects of the European Single Market: A CGE analysis for Spain," Journal of Policy Modeling, Elsevier, vol. 27(6), pages 689-709, September.
    8. Kathryn M. E. Dominguez, 2006. "The European Central Bank, the Euro, and Global Financial Markets," Journal of Economic Perspectives, American Economic Association, vol. 20(4), pages 67-88, Fall.
    9. Hans Gersbach & Hans Haller, 2007. "Hierarchical Trade and Endogenous Price Distortions," CER-ETH Economics working paper series 07/72, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    10. A. Ganesh Kumar & Gordhan Kumar Saini, 2007. "Economic co-operation in South Asia: The Dilemma of SAFTA and beyond," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2007-017, Indira Gandhi Institute of Development Research, Mumbai, India.
    11. Verboven, F.L., 1994. "International price discrimination in the European car market : An econometric model of oligopoly behavior with product differentiation," Discussion Paper 1994-51, Tilburg University, Center for Economic Research.
    12. Antonio G. GÛmez-Plana & Oscar Bajo-Rubio, "undated". "Algunos efectos del mercado ˙nico europeo sobre la economÌa espanola: Un an·lisis a travÈs de un modelo de equilibrio general aplicado," Studies on the Spanish Economy 213, FEDEA.
    13. Olivier Gaussens & Sophie Lecostey, 1994. "Politique technologique et intégration mondiale," Revue Économique, Programme National Persée, vol. 45(3), pages 459-474.
    14. Nitsch, Volker & Berger, Helge, 2015. "Measuring economic and institutional integration," Darmstadt Discussion Papers in Economics 225, Darmstadt University of Technology, Department of Law and Economics.

    More about this item

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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