Trade Flows and Trade Policy after '1992'

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This volume offers a major re-appraisal of the effect of completing the European Community's single-market program on trade among EC member states and also on the Community's external trade. Individual chapters assess the effects of "1992" on competition if transport costs and taste differences remain; detailed case studies show that integration has complex effects on trade flows and prices and stress the importance of devising a satisfactory international trade policy for the completed market; other chapters estimate the elasticities of demand for imports.

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Product Details

  • ISBN-13: 9780521440202
  • Publisher: Cambridge University Press
  • Publication date: 1/21/1993
  • Pages: 314
  • Product dimensions: 6.14 (w) x 9.21 (h) x 0.94 (d)

Table of Contents

List of figures
List of tables
List of conference participants
Pt. 1 Introduction 1
1 European trade and welfare after '1992' 3
Pt. 2 General equilibrium analyses 33
2 '1992': trade and welfare - a general equilibrium model 35
Discussion 63
3 Global production effects of European integration 67
Appendix: Cournot competition in integrated markets 86
Discussion 89
4 The integration of financial services and economic welfare 92
Appendix: Calibration 116
Discussion 118
Pt. 3 Modelling market integration - partial equilibrium 123
5 Market integration, competition, and welfare 125
Discussion 147
6 Pharmaceuticals: who's afraid of '1992'? 150
Discussion 170
Pt. 4 Trade and industrial policy 173
7 Integration, trade policy and European footwear trade 175
Appendix: Additional data and results 201
Discussion 209
8 The long-run value of inflexibility 213
Discussion 231
Pt. 5 Empirical evidence 235
9 Macroeconomic import functions with imperfect competition: an application to EC trade 237
Appendix 1: Sources of the data 259
Appendix 2: Derivation of the parameters of the demand system from the Morishima elasticities 260
Discussion 263
10 Bilateral trade elasticities for exploring the effects of '1992' 266
Appendix: Estimates of the elasticity of substitution 281
Discussion 285
Index 289
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