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How Did European Institutional Integration and Intra-European Trade Interact?

Author

Listed:
  • Itai Agur
  • Ettore Dorrucci
  • Francesco Paolo Mongelli

Abstract

EMU has spurred an interest on the effects of monetary unions on regional economic integration. This paper investigates the link between intra-European trade growth and the institutional process of regional integration, of which monetary integration was one step. Special attention is paid to the successive EU enlargements. Some causality tests are used to assess the direction and magnitude of impacts. The evidence provided is consistent with the idea that the interaction between regional institutional and trade integration before monetary union matters. Such interaction runs in both directions, although the link from institutional to trade integration dominates. Many open questions remain.

Suggested Citation

  • Itai Agur & Ettore Dorrucci & Francesco Paolo Mongelli, 2007. "How Did European Institutional Integration and Intra-European Trade Interact?," Economie Internationale, CEPII research center, issue 109, pages 107-146.
  • Handle: RePEc:cii:cepiei:2007-1te
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    File URL: http://www.cepii.fr/IE/rev109/rev109e.htm
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    More about this item

    Keywords

    Optimum currency area; economic and monetary integration; EMU; regional integration; european enlargement;

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • F15 - International Economics - - Trade - - - Economic Integration
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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