European Integration Trade and Industry

Much recent research has been devoted to the consequences of the completion of the internal market in 1992. Existing estimates of the effects of market integration remain very preliminary, however, and many important issues have yet to be adequately addressed. These formed the subject of a conference on "The Impact of 1992 on European Trade and Industry" held by the Centre for Economic Policy Research. This book reports the proceedings of that conference. The contributors to the volume address such issues as the gains to be expected from both "internal" and "external" economies of scale following integration, and the implications of 1992 for the Community's trade with both its traditional EFTA partners, the potentially valuable new East European markets, and the rest of the world. The volume also contains papers considering the effects of the completion of the internal market on the design of appropriate technology and taxation policies and a study of the role of Japanese foreign direct investment in European manufacturing.

Much research has been devoted to the consequences of the completion of the European internal market in 1992. Existing estimates of the effects of market integration remain exploratory, however, and many important issues have yet to be adequately addressed. These are the issues concerning this book. Edited by L. Alan Winters and Anthony Venables, the volume examines such questions as the extent of gains to be expected from both 'internal' and 'external' economies of scale following integration, the implications of 1992 for the European Community's trade with its traditional EFTA partners, the potentially valuable new East European markets, and the rest of the world. There are also chapters considering the implications of the internal market for the design of appropriate technology and taxation policies, and a study of the role of Japanese foreign direct investment in European manufacturing.

List of figures; List of tables; Preface; Acknowledgements; List of conference participants; 1. European integration: trade and industry L. Alan Winters and Anthony J. Venables; 2. Completing the internal market in the EC: factor demands and comparative advantage Michael Gasiorek, Alasdair Smith and Anthony J. Venables; Discussion Paul Brenton; 3. External effects and Europe's integration Riccardo J. Caballero and Richard K. Lyons; Discussion Alasdair Smith; 4. The quality and production of textiles and clothing and the completion of the internal market Riccardo Faini and Alberto Heimler; Discussion Willem Molle; 5. Competition and imports in the European market Alexis Jacquemin and André Sapir; Discussion Pier Carlo Padoan; 6. The structure and determinants of East-West trade: a preliminary analysis of the manufacturing sector Damien J. Neven and Lars-Hendrik Röller; Discussion Fabrizio Onida; 7. 1992 and EFTA Victor D. Norman; Discussion Carl B. Hamilton; 8. Technology policy in the completed European market David Ulph; Discussion Arye L. Hillman; 9. Corporation tax, foreign direct investment and the single market Michael Keen; Discussion Ian Wooton; 10. Japanese direct manufacturing investment in Europe Stefano Micossi and Gianfranco Viesti; Discussion Hideki Yamawaki; Index.

This volume from the Centre for Economic Policy Research is an important contribution to our understanding of the effects of the completion of the European internal market in 1992.