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Effects on the Rest of the World: Trade Diversion, Creation and Wealth

In: The European Community after 1992

Author

Listed:
  • Herbert Grubel

    (Simon Fraser University)

Abstract

Tariffs and quantitative restrictions on trade among the members of the European Economic Community (EEC) have been eliminated almost totally. It is expected that by 1992 the following, remaining barriers to internal trade will also be removed: 1. Customs procedures 2. Differences in technical regulations 3. Limitations on the movement of capital and labour 4. Differences in public procurement policies 5. Different currencies with accompanying exchange rate uncertainties and costs of conversion and transactions.

Suggested Citation

  • Herbert Grubel, 1992. "Effects on the Rest of the World: Trade Diversion, Creation and Wealth," Palgrave Macmillan Books, in: Silvio Borner & Herbert Grubel (ed.), The European Community after 1992, chapter 2, pages 29-44, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-12048-2_2
    DOI: 10.1007/978-1-349-12048-2_2
    as

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