Working Paper No. 272

Comparative Advantage, Terms of Trade and Welfare Effects of European Integration: Some Preliminary Assessments


The paper presents a first attempt at assessing general equilibrium effects of 1992. Two kinds of general equilibrium effects are relevant: one (dampening) effect stemming from the common resource constraints, the other one related to the fact that the relative competitiveness of industries may be altered as a consequence of the integration. This paper focuses on the second type of general equilibrium effects, and the results show that there may be additional gains for the EC stemming from terms-of-trade improvements and reduced dependence on subsidized and protected industries. The paper also presents general equilibrium assessments for Norway, under various assumptions regarding Norwegian participation in the integration process.

Interdisciplinary European Studies

The European Union and the Return of the Nation State

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This book explores the complex and ever-changing relationship between the European Union and its member states. The recent surge in tension in this relationship has been prompted by the actions of some member state governments as they question fundamental EU values and principles and refuse to implement common decisions seemingly on the basis of narrowly defined national interests.

About the book

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