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What Is European Integration Really About? A Political Guide for Economists

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  • Enrico Spolaore

Abstract

Europe's monetary union is part of a broader process of integration that started in the aftermath of World War II. In this "political guide for economists" we look at the creation of the euro within the bigger picture of European integration. How and why were European institutions established? What are the goals and determinants of European Integration? What is European integration really about? We address these questions from a political-economy perspective, building on ideas and results from the economics literature on the formation of states and political unions. Specifically, we look at the motivations, assumptions, and limitations of the European strategy, initiated by Jean Monnet and his collaborators, of partially integrating policy functions in a few areas, with the expectation that more integration will follow in other areas, in a sort of chain reaction towards an "ever-closer union". The euro with its current problems is a child of that strategy and its limits.

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Paper provided by Department of Economics, Tufts University in its series Discussion Papers Series, Department of Economics, Tufts University with number 0774.

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Date of creation: 2013
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Handle: RePEc:tuf:tuftec:0774
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Find related papers by JEL classification:
  • F15 - International Economics - - Trade - - - Economic Integration
  • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
  • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
  • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements

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  1. Frankel, Jeffrey A & Rose, Andrew K, 1996. "The Endogeneity of the Optimum Currency Area Criteria," CEPR Discussion Papers 1473, C.E.P.R. Discussion Papers.
  2. Klaus Desmet & Ignacio Ortuño-Ortín & Shlomo Weber, 2009. "Linguistic Diversity and Redistribution," Journal of the European Economic Association, MIT Press, vol. 7(6), pages 1291-1318, December.
  3. Philip R. Lane, 2012. "The European Sovereign Debt Crisis," Journal of Economic Perspectives, American Economic Association, vol. 26(3), pages 49-68, Summer.
  4. Alberto Alesina & Roberto Perotti, 2004. "The European Union: A Politically Incorrect View," Harvard Institute of Economic Research Working Papers 2029, Harvard - Institute of Economic Research.
  5. Alesina, Alberto & Spolaore, Enrico, 2006. "Conflict, defense spending, and the number of nations," European Economic Review, Elsevier, vol. 50(1), pages 91-120, January.
  6. Klaus Desmet & Ignacio Ortuño-Ortín & Romain Wacziarg, 2011. "The Political Economy of Linguistic Cleavages," Vives discussion paper series 20, Katholieke Universiteit Leuven, Faculteit Economie en Bedrijfswetenschappen, Vives.
  7. Geoffrey Garrett, 1993. "The Politics Of Maastricht," Economics and Politics, Wiley Blackwell, vol. 5(2), pages 105-123, 07.
  8. Perotti, Roberto & Alesina, Alberto, 2004. "The European Union: A Politically Incorrect View," Scholarly Articles 4553004, Harvard University Department of Economics.
  9. Frieden, Jeffry A., 2002. "Real Sources of European Currency Policy: Sectoral Interests and European Monetary Integration," International Organization, Cambridge University Press, vol. 56(04), pages 831-860, September.
  10. Philippe Martin & Thierry Mayer & Mathias Thoenig, 2008. "Make Trade Not War?," Review of Economic Studies, Oxford University Press, vol. 75(3), pages 865-900.
  11. Barry Eichengreen, 2012. "European Monetary Integration with Benefit of Hindsight," Journal of Common Market Studies, Wiley Blackwell, vol. 50(S1), pages 123-136, 03.
  12. Alesina, Alberto & Spolaore, Enrico, 2005. "War, peace, and the size of countries," Journal of Public Economics, Elsevier, vol. 89(7), pages 1333-1354, July.
  13. Barry Eichengreen & Jeffry Frieden, 1993. "The Political Economy Of European Monetary Unification: An Analytical Introduction," Economics and Politics, Wiley Blackwell, vol. 5(2), pages 85-104, 07.
  14. Dyson, Kenneth & Featherstone, Kevin, 1999. "The Road To Maastricht: Negotiating Economic and Monetary Union," OUP Catalogue, Oxford University Press, number 9780198296386, March.
  15. Andrew Moravcsik, 1993. "Preferences and Power in the European Community: A Liberal Intergovernmentalist Approach," Journal of Common Market Studies, Wiley Blackwell, vol. 31(4), pages 473-524, December.
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. The Importance of Being Europe
    by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets on 2014-10-27 12:28:33
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Cited by:

  1. Nicola Acocella, . "The theoretical roots of EMU institutions and policies during the crisis," Working Papers 126/14, Sapienza University of Rome, Metodi e modelli per l'economia, il territorio e la finanza MEMOTEF.
  2. Luigi Guiso & Helios Herrera & Massimo Morelli, 2014. "Cultural Differences and Institutional Integration," Working Papers 529, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
  3. Athanasios Orphanides, 2014. "The Euro Area Crisis: Politics over Economics," Atlantic Economic Journal, International Atlantic Economic Society, vol. 42(3), pages 243-263, September.
  4. Virkola, Tuomo, 2014. "Fiscal Federalism in Four Federal Countries," ETLA Reports 38, The Research Institute of the Finnish Economy.
  5. Crafts, Nicholas, 2013. "What Does the 1930s’ Experience Tell Us about the Future of the Eurozone?," CAGE Online Working Paper Series 142, Competitive Advantage in the Global Economy (CAGE).

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