Different Models for Regional Integration: Lessons from Total Factor Productivity in Europe
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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| Length: | 30 pages |
| Date of creation: | 16 Dec 2013 |
| Date of revision: | |
| Handle: | RePEc:ris:adbiwp:0452 |
| Contact details of provider: | Postal: Phone: (81-3)3593-5500 Fax: (81-3) 3593-5571 Web page: http://www.adbi.org/Email: More information through EDIRC
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