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Growth Effects of European Integration

  • Henrekson, Magnus

    ()

    (Research Institute of Industrial Economics (IFN))

  • Torstensson, Johan

    (Lund University and University of Nottingham)

  • Torstensson, Rasha

    (Lund University)

This paper deals with the effects of European integration in the EC and EFTA on economic growth. Base regressions suggest that EC and EFTA memberships do in fact have a positive and significant effect on economic growth, and that there is no significant difference between EC and EFTA membership. This result is not completely robust with respect to changes in the set of control variables and to measurement errors. Nonetheless, the results suggest that regional integration may not only affect resource allocation, but also long-run growth rates. This conclusion is strengthened by the fact that we obtain similar results when we use panel data for a sample of OECD countries. In addition, we explore possible indirect effects of regional integration.

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Paper provided by Research Institute of Industrial Economics in its series Working Paper Series with number 439.

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Length: 23 pages
Date of creation: Aug 1995
Date of revision:
Publication status: Published as Henrekson, Magnus, Johan Torstensson and Rasha Torstensson, 'Growth Effects of European Integration' in European Economic Review , 1997, pages 1537-1557.
Handle: RePEc:hhs:iuiwop:0439
Contact details of provider: Postal: Research Institute of Industrial Economics, Box 55665, SE-102 15 Stockholm, Sweden
Phone: +46 8 665 4500
Fax: +46 8 665 4599
Web page: http://www.ifn.se/
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