This paper analyses the political economy of trade liberalization by the European Community towards Eastern nations. We identify the sectors that are both sensitive and politically effective. We find that Eastern nations may have a comparative advantage in industries that use capital and...

This paper evaluates the effects of liberalizing access to the space sector, as currently envisaged by the EC Commission. We undertake an econometric evaluation of the degree of scale economies in satellite operations and calibrate a Cournot model of competition in which the effect of...

This paper explores the link between trade and European labour markets by using evidence on relative commodity prices and intra-sectoral skill levels at the NACE three-digit level for the four large EC countries and for the period 1976–90. We find that if the relative import prices of...

This paper tries to assess how the current program of European integration will affect the structure of the European retail banking industry. It is argued that trade in banking services is, and will presumably remain, limited, while there is still concern about possible trade diversion. Next, we...

In this paper, we investigate the design and implementation of financial regulation where market failures are created by asymmetric information between investors and firms. We argue that reputation, while providing some correction for imperfect information, should be supplemented by financial...

We study a model of intra-European trade flows and trade between Europe and the rest of the world for 29 manufacturing sectors for 1975-85. We investigate the claim that European integration has slowed down in recent years and find that it has proceeded alongside integration with the rest of the...

This Paper considers the economic analysis of non-tariff barriers in the context of disputes under Art. III of the GATT. This article establishes the principle of National Treatment, which requires WTO Members not to introduce internal measures that protect domestic products. We first observe...

In this paper, we analyse the scope for conflict between national merger control agencies that assert jurisdictions simultaneously. We consider a positive model of merger control in which market definition and the analysis of dominance are both explicitly specified. We find that conflict in...

This paper analyses the pattern of state aids to the manufacturing sector in ten EC countries for the period 1981--90. It focuses on determinants suggested by the political economy of state aids. We estimate a regression model where the intensity of state aids is accounted for by the weakness of...