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Steps towards a Deeper Economic Integration: The Internal Market in the 21st Century

Ilzkovitz, Fabienne, and Dierx, Adriaan, and Kovacs, Viktoria, and Sousa, Nuno. (2007) Steps towards a Deeper Economic Integration: The Internal Market in the 21st Century. In: UNSPECIFIED, Montreal, Canada. (Unpublished)

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    Abstract

    The aim of this paper is to analyse the effects of the implementation of the Internal Market Programme and to propose ideas on how its potential can be better exploited. First, the paper offers a broader perspective to the analysis of the Internal Market by exploring its close links to the rapidly changing economic environment. Second, it puts together a comprehensive body of empirical evidence, based on the analysis of trade, FDI, M&A, prices and regulation data, which allows for a thorough stock taking exercise of what has been achieved in terms of European economic integration. Thirdly, it analyses the remaining barriers to the completion of the Internal Market while presenting a critical review of the adequacy of the instruments that have been used so far. Overall the paper concludes that the Internal Market is a powerful instrument to promote economic integration and to increase competition within the EU and that it has been the source of large macro-economic benefits. However, these gains could have been substantially larger if the removal of most of the remaining cross-border barriers was achieved. In particular, the initial expectations that the Internal Market would serve as a catalyst for creating a more dynamic, innovative and competitive economy at the world level have not been met. Various reasons for this are identified, namely: the slow and sometimes incomplete implementation of directives, the inadequacy of some instruments, the persistence of barriers to cross-border trade and investment particularly in services and the slow development of an Internal Market for knowledge. Building on the evidence and analysis provided, the paper concludes with eight suggestions to guide the design of policymaking for the Internal Market in the 21st century.

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    Item Type: Conference or Workshop Item (UNSPECIFIED)
    Uncontrolled Keywords: European economy; Internal Market; micro-economic reforms; trade.
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > Single Market > capital, goods, services, workers
    EU policies and themes > Policies & related activities > economic and financial affairs > Single Market > general
    EU policies and themes > Policies & related activities > economic and financial affairs > general
    Subjects for EU documents: UNSPECIFIED
    EU Series: UNSPECIFIED
    ["eprint_fieldname_eusries" not defined]: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Conference: European Union Studies Association (EUSA) > Biennial Conference > 2007 (10th), May 17-19, 2007
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 24 Jun 2008
    Page Range: p. 90
    Last Modified: 15 Feb 2011 17:50
    URI: http://aei.pitt.edu/id/eprint/7797

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