Europe's Single Market: The Long March to 1992

The paper analyses the degree of structural change that has occurred within the EC since the launch of the internal market programme. It is divided into three parts: the first examines inter-sectoral shifts in the pattern of specialization within EC manufacturing, and finds relatively little change from 1986 to 1992; the second describes the trade impact of 1992 with the help of consumption shares, and finds internal and external trade creation; and the third uses regression analysis to account for the ratio of intra-EC imports in total EC imports in 1986 and in 1992, and identifies the impact of the internal market programme.