Autori
Manzocchi, Stefano
Ottaviano, Gianmarco I. P.

Titolo
Outsiders in economic integration: The case of a transition economy
Periodico
European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 1999 - Fascicolo: 32 - Pagina iniziale: 1 - Pagina finale: 26

The paper uses a spatial model of endogenous> growth lo investigate thè likely impaci of discriminatory integration among two advanced insider countnes on their own welfare as well as on thè welfare of an outsider transition economy. On thè one side, since per capita income level convergence depends on relative market access and locai market size, piece-wise integration causes insider-outsider divergence. This phenomenon is exacerbated by slow transition. On thè other side, simultaneous exclusion from thè integration process and ongoing transition have unpredictable effects on thè structural adjustment, which might even exhibit a swinging behavior. Since in practice such swings imply large adjustment costs, careful integration design is required. Under this respect, thè asymmetrìc phasing-out of trade barrìers built into thè Europe Agreements works in thè righi direction.



Testo completo: http://www.iue.it/ECO/WP-Texts/ECO99-32.pdf

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