Market Integration, Regionalism and the Global Economy

by Edited by Richard Baldwin , Daniel Cohen , Andre Sapir , Anthony Venables

• ISBN13: 9780521645898
• ISBN10: 0521645891
• Format: Paperback
• Copyright: 1999-08-28
• Publisher: Cambridge University Press

Summary

A study of the nature and the policy implication of changes in the global economy in relationship to the process of regional integration, conducted using the newest techniques of economic analysis. The principal message drawn from these analytical and policy insights is that in a world characterised by trade distortions and nonlinearities, regional integration may or may not foster global integration, and may or may not advance regional or global convergence. The key is good economic policy based on sound economic analysis. Part one of the volume covers three international trade policy issues: regionalism and multilateralism; the political economy of trade policy; and trade income inequality. Part two (chapters 7-11) focuses on three 'domestic' problems faced by regional groups: labour migration; exchange rate arrangements; and real convergence.

Table of Contents

1. Introduction Richard Baldwin, Daniel Cohen, Andre Sapir and Anthony Venables

Part I. Regionalism and the Global Economy L. Alan Winters: 2. Discussion Andre Sapir

3. Preferential agreements and the multilateral trading system Kyle Bagwell and Robert W. Staiger

Discussion Raquel Fernandez

4. Politics and trade policy Elhanan Helpman

Discussion Thierry Verdier

5. Globalisation and labour, or if globalisation is a bowl of cherries, why are there so many glum faces around the table Dani Rodrik

Discussion Alasdair Smith

6. Openness and wage inequality in developing countries: the Lation American challenge to East Asian conventional wisdom

Discussion Riccardo Faini

Part II. Market Integration and Regionalism: 7. Operationalising the theory of optimum currency areas Tamim Bayoumi and Barry Eichengreen

Discussion Jean Pisani-Ferry

8. European Migrants: an endangered species? Riccardo Faini

Discussion Richard Baldwin

9. Geography and specialisation: industrial belts on a circular plain Anthony J. Venables

Discussion Alisdair Smith

10. Convergence ... an overview Giuseppe Bertola

Discussion Daniel Cohen

11. Convergence as distribution dynamics (with or without growth) Danny T. Quah

Discussion Lucrezia Reichlin.