Europe 1992 and the Western Pacific Economies
Date
1991-11
Authors
Anderson, Kym
Journal Title
Journal ISSN
Volume Title
Publisher
Wiley
Abstract
The main stimulus to completing the integration of the economies of the
European Community under the 1992 programme has been the EC's relatively
slow economic growth during the past two or three decades. While Japan's
share of world GDP has trebled since the early 1960s, to about one sixth, the
EC 12's share has fallen slightly to around one quarter. Many expect - or at
least hope - that the removal of remaining barriers to movements of goods,
services, people and capital within the EC not only will provide a one-off boost
to EC output (Cecchini et al. 1988) but will set EC incomes on a permanently
higher growth path (Baldwin, 1989). Numerous non-Europeans worry,
however, that the trade-diverting consequences of the EC reforms, together
with possible enlargements of EC membership and changes in EC preferential
trading arrangements, will be much more significant than any external trade
creation and may make some excluded economies worse off. This paper seeks
to assess the effects of the EC92 programme and related changes currently
underway in Europe on the trade and growth prospects of a particularly
vulnerable group, namely, the Western Pacific economies.
Description
Keywords
economies, European Community, 1992, Japan, slow, economic, growth, GDP, trade
Citation
Collections
Source
The Economic Journal
Type
Journal article
Book Title
Entity type
Access Statement
Open Access