The External Implications of Closer European Integration

David Mayes

National Institute Economic Review, 1990, vol. 134, 73-85

Abstract: The happy outcome which is looked for in closer economic integration in the world is that all countries gain. This is particularly clear for a general removal of trade barriers, such as those indicated for the whole range of products by Stoeckel et al. (1990) or for individual products, such as the ending of the Multifibre Arrangement explored by Trela and Whalley (1990). Here those who have been protecting their industries gain because the losses to producers are more than offset by the gains to consumers, those who have been discriminated against in the past gain because they can increase their exports and those foreign countries which were previously benefiting from privileged access to the protected markets gain because their loss of market share is more than offset by an expansion in the market.

Date: 1990
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