EU Expansion and EU Growth

Alan Deardorff and Robert Stern

Chapter 5 in The Past, Present and Future of the European Union, 2004, pp 74-102 from Palgrave Macmillan

Abstract: Abstract The exercise in economic integration that today is called the European Union (EU) began in the 1950s amid high hopes for the benefits that it would provide, both economically and politically The political benefits, by eliminating the historic military conflict among the participating countries, have been unambiguous and very large. The economic benefits (in addition to avoidance of economic destruction caused by war) have also been fairly clear, but not so obviously large. The static welfare gains from economic integration have always been estimated to be comparatively small, while the ‘dynamic gains’ that many have hoped for have been both less well understood and difficult to identify in the data.

Keywords: European Union; Total Factor Productivity; Trade Diversion; Trade Creation; Regional Trade Agreement (search for similar items in EconPapers)
Date: 2004
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DOI: 10.1057/9780230522862_5

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