The clearest and most up-to-date account of the achievements—and setbacks—of the European Union since 1945. Europe has been transformed since the Second World War. No longer a checkerboard of entirely sovereign states, the continent has become the largest single-market area in the world, with most of its members ceding certain economic and political powers to the central government of the European Union. This shift is the product of world-historical change, but the process is not well understood. The changes came in fits and starts. There was no single blueprint for reform; rather, the EU is the result of endless political turmoil and dazzling bureaucratic gymnastics. As Brexit demonstrates, there are occasional steps backward, too. Cutting through the complexity, Richard Pomfret presents a uniquely clear and comprehensive analysis of an incredible achievement in economic cooperation. The Economic Integration of Europe follows all the major steps in the creation of the single market since the postwar establishment of the European Coal and Steel Community. Pomfret identifies four stages of development: the creation of a customs union, the deepening of economic union with the Single Market, the years of monetary union and eastward expansion, and, finally, problems of consolidation. Throughout, he details the economic benefits, costs, and controversies associated with each step in the evolution of the EU. What lies ahead? Pomfret concludes that, for all its problems, Europe has grown more prosperous from integration and is likely to increase its power on the global stage.

ÔThe emergence of the BRICs and of China in particular has played an important if underappreciated role to the competitive difficulties of Greece, Portugal and other Southern European countries. The contributors to this volume warn that similar challenges now confront the economies of Eastern and South-Eastern Europe, many of which compete head to head with China in international markets. More reassuringly, the authors also specify an agenda for structural adjustment, product upgrading and deeper integration with Western Europe that offers hope for meeting the China challenge.Õ Ð Barry Eichengreen, University of California, Berkeley, US This important book discusses European integration in a global economic setting, investigating the impact of China and Russia as emerging global players in the catching-up process in Central, Eastern and South-Eastern Europe. The expert contributors focus on global imbalances and accompanying policy challenges, competitiveness and trade, the sustainability of current growth strategies, and banking and financial stability in the light of the global economic and financial crisis. They provide a multi-disciplinary assessment, combining the views of high-ranking central bankers, policymakers, commercial bankers and academics, and demonstrate that a broad view of European economic integration is crucial given that spillovers and contagion were major issues of the recent economic crisis. This book will prove an illuminating read for academics, researchers, students and policymakers with an interest in international economics, money, finance and banking and European studies.

The Economics and Politics of European Integration offers a comprehensive history of European integration, from the conceptualization of a United States of Europe, to the present day. The special role of the United States in this process of integration, and the expansion and evolution of the European Union, is critically analyzed. The book also thoroughly discusses the current view of the EU and the complex crises emerging from the COVID-19 pandemic. While the book focuses primarily on Europe, the role of other countries is also examined. The rise of hostile enemies from Turkey, Russia, the US and China is explored, and the history and outcome of Brexit also receives unique focus. Maps are used throughout to clearly depict the enlargement process. This illuminating text will be valuable reading for students and researchers across international economics, economic history, political economy and European studies.

The European Union is the world's largest economic entity, with half a billion people and a gross domestic product slightly larger than the United States. It is the largest exporter, the largest foreign aid donor, the largest source of foreign investment, and a magnet for migrants. But its decision-making powers are often fragmented and ineffective. To date there has been no comprehensive study of European international economic relations. This book fills that gap. It examines the main areas of Europe's foreign economic policy: trade, development, external competition policy, migration, and external energy/environment policy. This book explains why it is time for the EU to wake up to its global responsibilities, and why, in the absence of reform of its governance system, Europe risks remaining a fragmented power.

Now in its 5th edition, the Economics of European Integration guides students through the facts, theories and controversies surrounding the dynamics of European economics. With clear and comprehensive discussions about European history, law, institutions, politics and policies, students are encouraged to explore and analyse the contemporary status of integration within the European Union. Designed for students taking modules in European economics, the text provides in-depth analysis of economics arguments with examples, illustrations and questions to help bring this thought-provoking subject to life.

The EU has experienced serious economic and political crises such as the sovereign debt crisis and Brexit in the past few years. However, despite these issues, the EU has implemented considerable institutional, fiscal, and collective improvements during the unification process to continue as a significant actor in the global economy. The Handbook of Research on Social and Economic Development in the European Union provides a multidisciplinary evaluation of the institutional, economic, and social development of the European Union and makes inferences for the future dynamics and collaborations of the EU, the global economy, and other countries. Featuring coverage on a broad range of topics such as energy security, gender discrimination, and global economics, this book is ideally designed for government officials, policymakers, world leaders, politicians, diplomats, international relations officers, economists, business professionals, historians, market analysts, academicians, researchers, and students concerned about the multifaceted integration processes surrounding the EU.

International economic integration is a topic upon which both academics and policy-makers are focusing a great deal of attention. This has perhaps been most marked in western Europe, given the establishing of the inter nal market and the prospects for an economic and monetary union. In parallel with the movement toward widening and deeping of western European economic integration, we find an increased integration of eastern Europe to world trade and finance as well as regional integration in North America and in East Asia. The book on hand provides a collection of recent research by leading scholars and practicians in this field. It is divided into three parts. The first part deals with some theoretical aspects of international integration, the second and the third part attend to implications of concrete forms of international integration inside and outside Europe. Part I starts with a neoclassical analysis of the impacts of factor-market integration by Franz Peter Lang. He investigates the effects on production level, production structure, demand level and structure of external trade of a "small integration area". Lang shows that the specific welfare effects of factor-market integration can only be realized if and only if external trade (between the integration area and the rest of the world) is increased too.