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What are the limits to economic integration? CEPS Working Document No. 177, November 2001

Brenton, Paul. (2001) What are the limits to economic integration? CEPS Working Document No. 177, November 2001. [Working Paper]

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    Abstract

    This paper discusses the continuing importance of borders, even within the EU, for the volume of international trade and global capital flows. It suggests that a range of factors, including the nature of the commercial, social and legal fabric of a country and the structure of consumers' preferences, act to constrain cross-border exchanges relative to internal transactions. Hence, whilst the process of globalisation may continue, there are likely to be distinct limits to the extent of economic integration. This entails that the traditional roles of governments in OECD countries in providing social welfare and regulating the market economy within national boundaries will not be seriously undermined. However, the situation may differ in developing countries where existing social and legal institutions may be compromised by globalisation rather than acting to dampen its impact.

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    Item Type: Working Paper
    Subjects for non-EU documents: EU policies and themes > External relations > globalisation/globalization
    EU policies and themes > Policies & related activities > economic and financial affairs > general
    EU policies and themes > External relations > international trade
    Subjects for EU documents: UNSPECIFIED
    EU Series: UNSPECIFIED
    ["eprint_fieldname_eusries" not defined]: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > CEPS Working Documents
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 08 Jul 2004
    Page Range: p. 18
    Last Modified: 15 Feb 2011 17:20
    URI: http://aei.pitt.edu/id/eprint/1829

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