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Deep Economic Integration: Is Europe a Blueprint?

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  • Charles WYPLOSZ

Abstract

This article revisits the long process of deep integration in Europe, asking which elements belong to a blueprint that could be used elsewhere, particularly in Asia. To that effect, it delves into those features that are not desirable and that should be avoided. The underlying theme is that integration is thoroughly controversial: delegation of power is of the essence but it comes at the expense of sovereignty; and economic integration is globally beneficial but creates losers alongside winners. As a consequence, compensating measures and diplomatic compromises are unavoidable, often at the expense of economic logic. This paper offers a number of suggestions designed to mitigate the negative effects of such unavoidable developments.

Suggested Citation

  • Charles WYPLOSZ, 2006. "Deep Economic Integration: Is Europe a Blueprint?," Asian Economic Policy Review, Japan Center for Economic Research, vol. 1(2), pages 259-279, December.
    • Handle: RePEc:bla:asiapr:v:1:y:2006:i:2:p:259-279
    DOI: 10.1111/j.1748-3131.2006.00030.x
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    Cited by:

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    2. Gerrit Faber & Jan Orbie, 2009. "Everything But Arms: Much More than Appears at First Sight," Journal of Common Market Studies, Wiley Blackwell, vol. 47(4), pages 767-787, September.
    3. Willi Semmler & Alexander Haider, 2018. "Cooperative Monetary and Fiscal Policies in the Euro Area," Southern Economic Journal, John Wiley & Sons, vol. 85(1), pages 217-234, July.
    4. Randolph Luca Bruno & Nauro Ferreira Campos & Saul Estrin, 2021. "The Effect on Foreign Direct Investment of Membership in the European Union," Journal of Common Market Studies, Wiley Blackwell, vol. 59(4), pages 802-821, July.
    5. Laura Márquez-Ramos & Inmaculada Martínez-Zarzoso & Celestino Suárez-Burguet, 2011. "Determinants of Deep Integration: Examining Socio-political Factors," Open Economies Review, Springer, vol. 22(3), pages 479-500, July.
    6. Willett, Thomas D. & Srisorn, Nancy, 2014. "The political economy of the Euro crisis: Cognitive biases, faulty mental models, and time inconsistency," Journal of Economics and Business, Elsevier, vol. 76(C), pages 39-54.
    7. Capannelli, Giovanni & Filippini, Carlo, 2009. "East Asian and European Economic Integration: A Comparative Analysis," Working Papers on Regional Economic Integration 29, Asian Development Bank.
    8. Takatoshi Ito, 2018. "Changing International Financial Architecture: Growing Chinese Influence?," Asian Economic Policy Review, Japan Center for Economic Research, vol. 13(2), pages 192-214, July.
    9. Hashai, Niron & Buckley, Peter J., 2021. "The effect of within-country inequality on international trade and investment agreements," International Business Review, Elsevier, vol. 30(6).
    10. Robert F. Owen, 2013. "Governance and Economic Integration : Stakes for Asia," Governance Working Papers 23432, East Asian Bureau of Economic Research.
    11. Gamito Carlos Coca & Baltos Georgios, 2019. "Optimal Spatial Allocation of Labour Force and Employment Protection Legislation (EPL)," Bulletin of Geography. Socio-economic Series, Sciendo, vol. 45(45), pages 45-58, September.

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