Economics of international integration

The book is a concise yet wide-ranging exposition of the principles of economic integration. Starting with the basic theory of customs unions and free trade areas, the author goes on to examine the modifications which are called for in the context of multiple policy objectives. Particular attention is given to recent theoretical developments which have profoundly altered the traditional approach to the subject. The policy issues involved in moving beyond customs unions to closer forms of integration are examined and particular attention is given to monetary integration, fiscal harmonisation and regional policy. Although the main emphasis of the book is on the development of a coherent framework for the analysis of integration issues, the relationship of the analysis to current policy issues, particularly in Europe, is stressed throughout. Separate chapters discuss the problems of integration in planned economies and in developing economies.

The book will be of particular value to university students of economics and to those following interdisciplinary courses for which an understanding of the issues of international economic integration is important. It will also interest others who need to understand the theoretical issues underlying the practical problems of integration policy. The treatment is non mathematical and much of the argument will be accessible to a wide readership.