Economic Integration and Regional Policy Cooperation

Jeffrey Petchey and Perry Shapiro

Chapter 9 in Creating an Internationally Competitive Economy, 2001, pp 155-165 from Palgrave Macmillan

Abstract: Abstract Economic unions often begin by establishing common markets for trade in goods and services. In some cases, for example the European Union, common factor markets that allow the free flow of capital and labour are also established. Integration of factor markets implies that as a state chooses its policies it will change the distribution of mobile factors with in the common market and hence have an effect on neighbouring states. In other words, integration implies increasing policy interdependence.

Keywords: Member State; Public Good; Competitive Equilibrium; Mobile Labour; Factor Market (search for similar items in EconPapers)
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-55706-2_9

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DOI: 10.1057/9780230557062_9

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