Economic Integration in the EuroMed: Current Status and Review of Studies

Joachim Jarreau

Working Papers from CEPII research center

Abstract: This article draws a picture of the current status of the liberalization process in the Euro-Mediterranean region, and reviews existing studies of this process. Economic integration among the South-Med countries (SMCs) has started in the middle 1990s through intra-regional agreements (GAFTA, Agadir Agreement) and bilateral agreements with the EU. Econometric studies using gravity models generally found important trade creation effects for intra-regional trade, but smaller and asymmetric effects from EU-Med agreements, with an increase of export flows from the EU but no increase of flows in the other direction. Simulations with CGE models shows the main sources of gains (trade creation) and of losses (trade diversion, terms of trade) for SMCs. Studies also suggest that a dismantling of non-tariff barriers and of barriers in services trade could yield substantial gains for SMCs. A table with existing agreements and a picture of economic flows in the region can be found in the annex.

Keywords: REGIONAL INTEGRATION; EUROMED; GRAVITY MODEL; CGEM (search for similar items in EconPapers)
JEL-codes: F15 F17 O24 O53 O55 (search for similar items in EconPapers)
Date: 2011-03
New Economics Papers: this item is included in nep-ara, nep-cmp and nep-int
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:cii:cepidt:2011-07

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