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European Integration and the Effects of Country Size on Growth

Author

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  • König, Jörg

    (Georg-August-University of Goettingen)

Abstract

Does the size of a country affect its economic growth rate? Theory suggests that the existence of a national scale effect is favouring large countries and that small countries may overcome the impediments of smallness once their markets become internationally more integrated. So far, empirical evidence of a distinct impact of country size on economic growth is rather limited. The present study sheds light on this impact from a European perspective. Country size indeed correlates with economic growth and European economic integration enhances the convergence process of the countries. It is further shown that the impact of size varies according to a country’s individual level of economic integration, suggesting that the long-term economic growth path is characterized by multiple transition points. This finding is particularly important given the prevailing imperfections of the European Union Single Market and the increasing number of small European Union member states.

Suggested Citation

  • König, Jörg, 2015. "European Integration and the Effects of Country Size on Growth," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 30(3), pages 501-531.
    • Handle: RePEc:ris:integr:0666
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    Citations

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    Cited by:

    1. Nenubari Ikue John & Ifeanyichukwu Lucky Amabuike & Joseph Ade Ajaba & John Akin Sodipo & Linus Bamekpari Enegesi, 2020. "Financial system, trade concentration and economic growth in West African Monetary Zone (WAMZ)," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 9(4), pages 426-436, July.
    2. Ehigiamusoe, Kizito Uyi & Lean, Hooi Hooi, 2019. "Do economic and financial integration stimulate economic growth? A critical survey," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 13, pages 1-27.
    3. Danko Tarabar & Andrew T. Young, 2017. "Liberalizing Reforms and the European Union: Accession, Membership, and Convergence," Southern Economic Journal, John Wiley & Sons, vol. 83(4), pages 932-951, April.
    4. Ali Gulzar, 2020. "Financial Sector Reforms and its Impact on Economy of Pakistan," Asian Journal of Law and Economics, De Gruyter, vol. 11(2), pages 1-18, August.

    More about this item

    Keywords

    Country Size; European Economic Integration; Economic Growth; Economic Convergence; Panel Data; Fixed Effects;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • F15 - International Economics - - Trade - - - Economic Integration
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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