DP755 | The European Community: A Case of Successful Integration?

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31/01/1993

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Abstract

This paper examines economic performance of the European Community (EC) over the last two decades. It argues that, while it has not been bad, neither has it been strong enough to prove the virtues of international economic integration. It notes in particular the dangers of inward-looking policies within integration schemes. It then considers the process of EC enlargement, arguing that the process curtails some of the possible benefits of market opening. Finally, it argues that the EC's non-trade policies have provided necessary props to the creation of a common market.