Deep Economic Integration: Is Europe a Blueprint?*

Charles Wyplosz

Asian Economic Policy Review, 2006, vol. 1, issue 2, 259-279

Abstract: This article revisits the long process of deep integration in Europe, asking which elements belong to a blueprint that could be used elsewhere, particularly in Asia. To that effect, it delves into those features that are not desirable and that should be avoided. The underlying theme is that integration is thoroughly controversial: delegation of power is of the essence but it comes at the expense of sovereignty; and economic integration is globally beneficial but creates losers alongside winners. As a consequence, compensating measures and diplomatic compromises are unavoidable, often at the expense of economic logic. This paper offers a number of suggestions designed to mitigate the negative effects of such unavoidable developments.

Date: 2006
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https://doi.org/10.1111/j.1748-3131.2006.00030.x

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Asian Economic Policy Review is currently edited by Takatoshi Ito, Akira Kojima, Colin McKenzie and Shujiro Urata

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