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Different Models for Regional Integration: Lessons from Total Factor Productivity in Europe

  • Lee, Jeong Yeon

    (Asian Development Bank Institute)

  • Kim, Doyeon

    (Asian Development Bank Institute)

Registered author(s):

    The European experience offers three possible models for regional integration: a free trade arrangement, a single market, and a common currency area. This paper examines the effect of regional integration on total factor productivity to assess the long-run growth implications of each model. The findings suggest that joining a regional grouping changes the way participating economies grow. Of the three models, the free trade arrangement is found to be the most effective in promoting intra-regional dependence on R&D spillovers. The other two models are associated with largely negative windfall effects on total factor productivity.

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    File URL: http://www.adbi.org/files/2013.12.13.wp452.different.models.regional.integration.pdf
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    Paper provided by Asian Development Bank Institute in its series ADBI Working Papers with number 452.

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    Length: 30 pages
    Date of creation: 16 Dec 2013
    Date of revision:
    Handle: RePEc:ris:adbiwp:0452
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    1. Paul Romer, 1989. "Endogenous Technological Change," NBER Working Papers 3210, National Bureau of Economic Research, Inc.
    2. Aghion, P. & Howitt, P., 1989. "A Model Of Growth Through Creative Destruction," Working papers 527, Massachusetts Institute of Technology (MIT), Department of Economics.
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    7. Ottaviano, Gianmarco & Melitz, Marc, 2008. "Market Size, Trade, and Productivity," Scholarly Articles 3229096, Harvard University Department of Economics.
    8. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
    9. repec:cup:cbooks:9780521862509 is not listed on IDEAS
    10. Alberto Alesina & Francesco Giavazzi, 2010. "Introduction to "Europe and the Euro"," NBER Chapters, in: Europe and the Euro, pages 1-9 National Bureau of Economic Research, Inc.
    11. T. W. Swan, 1956. "ECONOMIC GROWTH and CAPITAL ACCUMULATION," The Economic Record, The Economic Society of Australia, vol. 32(2), pages 334-361, November.
    12. Venables, Anthony J., 1985. "Trade and trade policy with imperfect competition: The case of identical products and free entry," Journal of International Economics, Elsevier, vol. 19(1-2), pages 1-19, August.
    13. repec:cup:cbooks:9780521711500 is not listed on IDEAS
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