Customs Union and Economic Growth

Elena Seghezza ()

Economia Internazionale / International Economics, 2003, vol. 56, issue 4, 479-498

Abstract: The paper analyses the growth effects of a custom union. It starts by assuming an exogenous growth framework. In this context, it finds that joining a custom union leads to a higher level of capital stock and, in the transition period, to higher growth, if originally trade barriers were high. Then the paper assumes an endogenous growth framework. In this context, it finds that joining a custom union can only be beneficial either in terms of capital stock or in terms of growth rate. The model conclusions are confirmed by the results of an econometric estimate of the growth effects of the European Union. These estimates suggest that European integration had an effect on investment above and beyond the amount achieved via tariffs.

Keywords: Custom union; economic growth (search for similar items in EconPapers)
JEL-codes: F15 O41 (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:ris:ecoint:0150

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