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Customs Union and Economic Growth

Author

Listed:
  • Seghezza , Elena

    (Università di Genova, Facoltà di Scienze Politiche, Dipartimento di Scienze Economiche e Finanziarie)

Abstract

The paper analyses the growth effects of a custom union. It starts by assuming an exogenous growth framework. In this context, it finds that joining a custom union leads to a higher level of capital stock and, in the transition period, to higher growth, if originally trade barriers were high. Then the paper assumes an endogenous growth framework. In this context, it finds that joining a custom union can only be beneficial either in terms of capital stock or in terms of growth rate. The model conclusions are confirmed by the results of an econometric estimate of the growth effects of the European Union. These estimates suggest that European integration had an effect on investment above and beyond the amount achieved via tariffs.

Suggested Citation

  • Seghezza , Elena, 2003. "Customs Union and Economic Growth," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 56(4), pages 479-498.
    • Handle: RePEc:ris:ecoint:0150
    as

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    More about this item

    Keywords

    Custom union; economic growth;

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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