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Is Regionalism Better For Economic Integration? Nations, Regions, And Risk Sharing

  • Ignacio Ortuño Ortín

    (Universidad de Alicante)

  • Jaume Sempere

    (El Colegio de México)

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    Our analysis yields some conclusions about the political role of regions in the formation of supranational economic areas, which turns out to be quite different from the role of nations. The claim that regions have more incentives than nations to attain a fiscal agreement implying full economic integration is likely to be correct when nations are economic stable arrangements, i.e. when the rich region of a nation is not "exploited" by the poor region. When, on the other hand, it is not on the interest of a rich region to be part of a nation, attempts to achieve full economic integration among a group of nations is more likely to be successful if nations, instead of regions, are the decision makers.

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    File URL: http://www.ivie.es/downloads/docs/wpasad/wpasad-2000-16.pdf
    File Function: Fisrt version / Primera version, 2000
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    Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie AD with number 2000-16.

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    Length: 32 pages
    Date of creation: Oct 2000
    Date of revision:
    Publication status: Published by Ivie
    Handle: RePEc:ivi:wpasad:2000-16
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    1. Persson, Torsten & Tabellini, Guido, 1996. "Federal Fiscal Constitutions: Risk Sharing and Redistribution," Journal of Political Economy, University of Chicago Press, vol. 104(5), pages 979-1009, October.
    2. Alberto Alesina & Enrico Spolaore, 1995. "On the Number and Size of Nations," NBER Working Papers 5050, National Bureau of Economic Research, Inc.
    3. Friend, Irwin & Blume, Marshall E, 1975. "The Demand for Risky Assets," American Economic Review, American Economic Association, vol. 65(5), pages 900-922, December.
    4. Alesina, Alberto & Wacziarg, Romain, 1998. "Openness, country size and government," Journal of Public Economics, Elsevier, vol. 69(3), pages 305-321, September.
    5. Wacziarg, Romain & Alesina, Alberto, 1999. "Is Europe Going Too Far?," Scholarly Articles 4553012, Harvard University Department of Economics.
    6. Forni, Mario & Reichlin, Lucrezia, 1999. "Risk and potential insurance in Europe," European Economic Review, Elsevier, vol. 43(7), pages 1237-1256, June.
    7. Olivier Jean Blanchard & Lawrence F. Katz, 1992. "Regional Evolutions," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 23(1), pages 1-76.
    8. David E. Wildasin, 2005. "Fiscal Competition," Working Papers 2005-05, University of Kentucky, Institute for Federalism and Intergovernmental Relations.
    9. Wildasin, David E, 1995. " Factor Mobility, Risk and Redistribution in the Welfare State," Scandinavian Journal of Economics, Wiley Blackwell, vol. 97(4), pages 527-46, December.
    10. Persson, Torsten & Tabellini, Guido, 1996. "Federal Fiscal Constitutions: Risk Sharing and Moral Hazard," Econometrica, Econometric Society, vol. 64(3), pages 623-46, May.
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