Processes of regional economic integration have been shaping the economic relations between countries significantly during the last decades. In addition, an increasing integration of the national economies into the global economy has affected these economic relations, too. In an effort to...

Trade theories predict and explain the consequences of economic integration. Generally, they show that freer international trade leads to specialisation, technological convergence and faster economic growth. This study compares the conclusions of the trade theories with empirical observations of...

In this paper we explore the nexus between cross-border trade integration and monetary policy. We first review the evidence that trade liberalization has increased the degree of integration in North America and conclude that, while robust structural inferences remain elusive, there is sufficient...

Integration affects economic growth mainly through two different channels : The scale-effect channel and the factor-reallocation channel. In order to investigate both channels within a unifying framework, we employ a simple descriptive growth model. The scale-effect channel increases either the...

Integration affects economic growth mainly through two different channels: The scale-effect channel and the factor-reallocation channel. In order to investigate both channels within a unifying framework, we employ a simple descriptive growth model. The scale-effect channel increases either the...

The recent European economic crisis has dramatically exposed the failures of the various institutional mechanisms in place to maintain economic stability in Europe, and has unveiled the difficulty in achieving international coordination on fiscal and financial stability policies. Drawing on the...

Depuis le début de la décennie, les pays du Mercosur ont connu une forte croissance des échanges et des investissements directs étrangers (IDE). Nous examinons les liens entre les IDE, le commerce et l'intégration régionale dans le cadre de la formation du Mercosur, à l'aide d'équations...