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Peter Robson - The Economics of International Integration: Fourth Revised Edition

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This new edition of the an established introduction to the economics of regional integration among nation states, has been completely revised to reflect the latest developments in the past decade and current policy initiatives. Features of the new edition include:* revised and updated analysis of customs unions, free trade areas, common markets, fiscal integration and harmonisation, monetary integration and regional policy* two entirely new chapters dealing with the new economics of market integration and the role of transnational corporations* analysis of influential initiatives in the European Community* an assessment of the Single Market programme and the implications of enlargement into Eastern Europe* a survey of the new initiatives for regionalism outside Europe, including NAFTA.

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Cover

title Economics of International Integration 4Th Ed author - photo 1
title:Economics of International Integration 4Th Ed.
author:Robson, Peter.
publisher:Taylor & Francis Routledge
isbn10 | asin:0415148774
print isbn13:9780415148771
ebook isbn13:9780203019603
language:English
subjectInternational economic integration, Integration economique internationale
publication date:1998
lcc:HF1418.5.R63 1998eb
ddc:337.1
subject:International economic integration, Integration economique internationale

Page i

THE ECONOMICS OF INTERNATIONAL INTEGRATION

Now in its fourth edition, The Economics of International Integration has established itself as an accessible introduction to the economics of regional integration among nation states. This new edition has been completely revised to reflect important theoretical developments of the past decade and current policy initiatives. The original focus on the analysis of customs unions, free trade areas, common markets, fiscal integration and harmonization, monetary integration and regional policy issues has been retained and updated, while two entirely new chapters deal with the new economics of market integration and the role of transnational corporations.

The books main focus is the theoretical framework that has been developed to understand regionalism and it provides a balanced account of contemporary mainstream analysis and current policy debates. The analysis reflects current initiatives in the European Union which have been the principal driving force for newer theories of integration and whose experience yields useful guidelines for other blocs. In the European context, the book assesses the impact of the Single Market programme, as well as discussing emergent budgetary problems in the light of monetary integration and enlargement into Eastern Europe.

The Economics of International Integration provides an original and stimulating analysis that encompasses several distinct branches of economic thought. It is a balanced and accessible survey for students of economics and international relations of the theoretical and policy issues involved in international integration.

Peter Robson is Honorary Professor of Economics in the University of St Andrews. He has held visiting professorships at the College of Europe and the Universities of Amsterdam and Clermont-Ferrand. He has served as the editor of the Journal of Common Market Studies. His recent publications include Transnational Corporations and Regional Economic Integration (Routledge, 1993).

Page ii

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Page iii

THE ECONOMICS OF INTERNATIONAL INTEGRATION

Fourth edition

Peter Robson

Picture 2

London and New York

Page iv

First published 1980
by the Academic Division of Unwin Hyman Ltd

This edition published in the Taylor & Francis e-Library, 2002.

Second edition 1984, third edition 1987, third impression 1990,
reprinted 1993

Fourth edition first published 1998
by Routledge
11 New Fetter Lane, London EC4P 4EE

Simultaneously published in the USA and Canada
by Routledge
29 West 35th Street, New York, NY 10001

1998 Peter Robson

All rights reserved. No part of this book may be reprinted or
reproduced or utilized in any form or by any electronic, mechanical,
or other means, now known or hereafter invented, including
photocopying and recording, or in any information storage and
retrieval system, without permission in writing from the publishers.

British Library Cataloguing in Publication Data
A catalogue record for this book is available from the British
Library

Library of Congress Cataloguing in Publication Data
Robson, Peter
The economics of international integration/Peter Robson.4th
ed.
p. cm.
Includes bibliographical references and index.
1. International economic integration. I. Title.
HF1418.5.R63 1988
337.1dc21 9729570

ISBN 0-203-01960-1 Master e-book ISBN

ISBN 0-203-27959-X (OEB Format)

ISBN 0-415-14876-6 (hbk)

ISBN 0-415-14877-4 (pbk)

Page v

CONTENTS

List of figures and tables

ix

List of abbreviations and acronyms

xi

Preface

xiv

Introduction

The scope of the subject

The emergence of the theory of international economicintegration

The present reach of international economic integration:a global perspective

Plan of the book

The theory of customs unions and free trade areas

The theoretical context

Customs unions and resource allocation

The economics of a free trade area

Broadening the framework

The terms-of-trade effects of customs unions and free tradeareas

Economies of scale in customs union theory

Conclusion

Page vi

Customs unions versus unilateral tariff reduction

The superiority of unilateral tariff reduction?

The analysis of customs unions with public goods

Public goods and the rationale for customs unions

The rationale for the integration of othereconomic policies

Policies to overcome allocational cross-border spillovers

Policies to overcome stabilization spillovers

Policies for cohesion and convergence

The dynamics of policy integration

The theory of common markets

Integration and intra-bloc capital flows

Foreign capital and the costs and benefits of integration

Factor supplies, dynamic effects and convergence

Conclusion

The new economics of market integration

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