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Economic Integration, Sovereignty and Identity: New Zealand in the Global Economy

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    Markets are becoming more integrated. Whilst governments have limited influence over this process, they can hasten or hinder the pace of integration and will need to respond to the implications of integration. This paper provides a framework for thinking about the benefits and costs of market integration. It analyses how cross border flows of goods, services, capital and labour affect the living standards of New Zealanders in terms of both productivity and incomes as well as other, broader, aspects of living standards. Particular attention is paid to the areas of spatial economic analysis and national sovereignty and identity. Governments must consider a number of factors when thinking about their stance on integration. Further economic integration promises economic benefits for New Zealanders in terms of greater productivity and higher incomes. One risk, however, is that with increasingly free factor flows, government pursuit of integration may increase the risk of activity relocating offshore. The evidence on the overall effect of integration on income distribution is unclear, however we do know that there will be winners and losers. Decision-making power and feelings of identity seem to be important components of well-being - integration brings with it both risks and opportunities in these areas, as pressure is put on traditional forms of governance and identity, and new forms develop. Deciding how the costs and benefits of integration stack up ultimately involves a number of value judgements - the paper provides a framework and a summary of empirical evidence to help inform those judgements.

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    File URL: http://www.treasury.govt.nz/publications/research-policy/wp/2000/00-22/twp00-22.pdf
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    Paper provided by New Zealand Treasury in its series Treasury Working Paper Series with number 00/22.

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    Length: 100 pages
    Date of creation: 2000
    Date of revision:
    Handle: RePEc:nzt:nztwps:00/22
    Contact details of provider: Postal: New Zealand Treasury, PO Box 3724, Wellington, New Zealand
    Phone: +64-4-472 2733
    Fax: +64-4-473 0982
    Web page: http://www.treasury.govt.nz

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    1. Alan Deardorff & Ralph Lattimore, 1999. "Trade and factor-market effects of New Zealand's reforms," New Zealand Economic Papers, Taylor & Francis Journals, vol. 33(1), pages 71-91.
    2. Erwin Diewert & Denis Lawrence, 1999. "Measuring New Zealand’s Productivity," Treasury Working Paper Series 99/05, New Zealand Treasury.
    3. Venables, Anthony J, 1998. "The Assessment: Trade and Location," Oxford Review of Economic Policy, Oxford University Press, vol. 14(2), pages 1-6, Summer.
    4. Salter, Ammon J. & Martin, Ben R., 2001. "The economic benefits of publicly funded basic research: a critical review," Research Policy, Elsevier, vol. 30(3), pages 509-532, March.
    5. Barry, F & Bradley, J, 1997. ""FDI and Trade : The Irish Host-Country Experience"," Papers 97/13, College Dublin, Department of Political Economy-.
    6. Glaeser, Edward L & Mare, David C, 2001. "Cities and Skills," Journal of Labor Economics, University of Chicago Press, vol. 19(2), pages 316-42, April.
    7. Levinsohn, J. & Petrin, A., 1999. "When Industries Become More Productive, Do Firms?: Investigating Productivity Dynamics," Working Papers 445, Research Seminar in International Economics, University of Michigan.
    8. Francisco Rodriguez & Dani Rodrik, 1999. "Trade Policy and Economic Growth: A Skeptic's Guide to Cross-National Evidence," NBER Working Papers 7081, National Bureau of Economic Research, Inc.
    9. Audretsch, David B, 1998. "Agglomeration and the Location of Innovative Activity," CEPR Discussion Papers 1974, C.E.P.R. Discussion Papers.
    10. Antonio Ciccone & Robert E. Hall, 1993. "Productivity and the Density of Economic Activity," NBER Working Papers 4313, National Bureau of Economic Research, Inc.
    11. Suzi Kerr & Megan Claridge & Dominic Milicich, . "Devolution and the New Zealand Resource Management Act," Treasury Working Paper Series 98/07, New Zealand Treasury.
    12. Trefler, Daniel, 1993. "International Factor Price Differences: Leontief Was Right!," Journal of Political Economy, University of Chicago Press, vol. 101(6), pages 961-87, December.
    13. Wallace E. Oates, 1999. "An Essay on Fiscal Federalism," Journal of Economic Literature, American Economic Association, vol. 37(3), pages 1120-1149, September.
    14. Jonathan Coppel & Martine Durand, 1999. "Trends in Market Openness," OECD Economics Department Working Papers 221, OECD Publishing.
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