Problems Of Economic Union

Discussing the main problems in the formation of an Economic Union, this book analyses the extent to which national governments would have to give up their freedom of action in domestic monetary, budgetary, fiscal and economic policies if they were to form an effective economic union. The issues of commercial policy, financial and exchange-rate policies, of migration and investment and of the finance of a common defence budget are all covered.

Economic integration is one of the most noteworthy issues in international economic policy at the end of the twentieth century. The recent examples of the European Union (EU) and the North American Free Trade Association (NAFTA) have raised important questions about the economic integration process and the possible establishment of economic unions in other parts of the world. Against the backdrop of the financial crisis in Europe and prospects of increasing integration in Asia, this volume showcases research from an international array of researchers to provide a basic understanding of the current issues, problems, challenges, and opportunities for achieving integration, addressing both empirical and theoretical aspects of such topics as monetary union, social policy reform and social union, public finance and technology policy. The chapters in Part 1 are focused primarily on economic issues, while Part 2 covers on social policy, the welfare state, and political reforms, with a particular emphasis on the European Union. Among the questions addressed: What are the main determinants and implications for socio-economic integration? How can economic policy influence the growth and integration process? Why is innovation important for regional economic development? What has been the policy response so far and what lessons have we learned from it? And finally, what are our action lines for the future?

In its pursuit of economic integration, economic and monetary union (EMU) had become a primary commitment for the European Community. Originally published in 1974, this study sets out to examine the meaning of economic union and its relationship with monetary union. The contributors look at the problems and costs for attaining economic union for the member states of the EEC at the time. Steven Robson writes on economic management. Paul Woolley examines the integration of capital markets. Santosh Mukherjee looks at the implications of labour market policy. Geoffrey Denton and Adam Ridley consider the impact of economic and monetary union on regional problems. Alan Prest is concerned with tax harmonisation specifically Value Added Tax and Corporation Tax and Douglas Dosser discusses the development of a European Community budget. Though the long-term benefits of EMU were clear, in the short term it would impose strains and pressures on national economies and particular sectors within them. This study goes a long way to clarifying where these difficulties would arise and suggests some ways of coping with them.

In its pursuit of economic integration, economic and monetary union (EMU) had become a primary commitment for the European Community. Originally published in 1974, this study sets out to examine the meaning of economic union and its relationship with monetary union. The contributors look at the problems and costs for attaining economic union for the member states of the EEC at the time. Steven Robson writes on economic management. Paul Woolley examines the integration of capital markets. Santosh Mukherjee looks at the implications of labour market policy. Geoffrey Denton and Adam Ridley consider the impact of economic and monetary union on regional problems. Alan Prest is concerned with tax harmonisation specifically Value Added Tax and Corporation Tax and Douglas Dosser discusses the development of a European Community budget. Though the long-term benefits of EMU were clear, in the short term it would impose strains and pressures on national economies and particular sectors within them. This study goes a long way to clarifying where these difficulties would arise and suggests some ways of coping with them.

The contributions to this book examine the two main asymmetries of the Euro Area as they have intensified during the second decade of Economic and Monetary Union (EMU): the first between monetary union (more supranational governance) versus 'economic' union (less centralised governance); the second between those Euro Area member states of the so-called 'core' and those of the 'periphery'. EMU stands as one of the European Union's (EU) flagship integration achievements. Set up in 1999, with the large majority of EU member states at the time, EMU was described as 'asymmetrical' even prior to its start. From the outset, it involved asymmetrical integration in monetary and 'economic' union. Although a major element of the blueprint that paved the way for the final stage of EMU, the concept of 'economic' union was insufficiently developed. The second decade of the single currency gave rise to a second asymmetry, namely one between those Euro Area member states of the 'core' and those of the 'periphery'. The ten contributions to this volume speak to one or both of these asymmetries, covering the major political, political economy and policy dimensions of EMU and the ongoing debates about necessary policy and institutional reforms to overcome these asymmetries and bolster Euro Area stability. The outbreak of the Coronavirus (Covid-19) Crisis in 2020 created unprecedented socio-economic challenges for Euro Area member states, heightening the perceived urgency of reform. The chapters in this book were originally published as a special issue of the Journal of European Integration.

This is an examination of both the advantages and the problems posed by the notion of a North American economic union. Scholars and government representatives from the United States, Canada and Mexico exchange views and explore not just the economic implications but also the likely social and political consequences of economic integration. A varie

Study of views and aspirations of Canadians on Canada's future development potential and economic and social development priorities - gives public opinion on employment, inflation, entrepreneurship, technology, trade, industrial development, productivity, labour relations, education, training, etc.