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Sequencing and Depth of Regional Economic Integration: Lessons for the Americas from Europe

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  • Richard E. Baldwin

Abstract

The paper first reviews Europe's experience with regional integration, stressing the political economy forces that governed the direction and speed of the process. It argues that the geographic spread of economic integration in Europe is driven by a domino effect by which each successive integration increases the pressure on non-participants to join the integration effort. On the depth of integration, the paper argues that the path of European integration - from completion of the customs union, to the Single Market programme, to the Maastricht Treaty and monetary union - was dictated by a political economy dynamo set in motion by the unique institutional features established by the 1957 Treaty of Rome. Consequently, the lessons for other regions must be considered with great care. Copyright 2008 The Author.

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  • Richard E. Baldwin, 2008. "Sequencing and Depth of Regional Economic Integration: Lessons for the Americas from Europe," The World Economy, Wiley Blackwell, vol. 31(1), pages 5-30, January.
  • Handle: RePEc:bla:worlde:v:31:y:2008:i:1:p:5-30
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    References listed on IDEAS

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    1. Devereux, Michael B. & Lane, Philip R., 2003. "Understanding bilateral exchange rate volatility," Journal of International Economics, Elsevier, vol. 60(1), pages 109-132, May.
    2. Marc J. Melitz, 2003. "The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity," Econometrica, Econometric Society, vol. 71(6), pages 1695-1725, November.
    3. Baldwin, Robert Edward & Baldwin, Richard Edward, 1996. "Alternate approaches to the political economy of endogenous trade liberalization," European Economic Review, Elsevier, vol. 40(3-5), pages 775-782, April.
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    Cited by:

    1. Nicole Litzel & Joachim Möller, 2011. "Industrial Clusters and Economic Integration: Theoretic Concepts and an Application to the European Metropolitan Region Nuremberg," Chapters,in: International Handbook on the Economics of Integration, Volume II, chapter 12 Edward Elgar Publishing.
    2. Chunding Li & Jing Wang & John Whalley, 2014. "Numerical General Equilibrium Analysis of China's Impacts from Possible Mega Trade Deals," NBER Working Papers 20425, National Bureau of Economic Research, Inc.
    3. Li, Chunding & Wang, Jing & Whalley, John, 2016. "Impact of mega trade deals on China: A computational general equilibrium analysis," Economic Modelling, Elsevier, vol. 57(C), pages 13-25.
    4. Ken-ichi Ando, 2011. "Economic Integration from Above and Below with the Evidence of Japanese MNEs in Europe," Chapters,in: International Handbook on the Economics of Integration, Volume III, chapter 5 Edward Elgar Publishing.

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