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European Models for Regional Integration: Implications for International R&D Spillovers

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Authors
Lee, Jeong Yeon
Issue Date
2014-06
Publisher
Institute of International Affairs, Graduate School of International Studies, Seoul National University
Citation
Journal of International and Area Studies, Vol.21 No.1, pp. 69-86
Keywords
regional integrationeconomic growthtotal factor productivityR&DEurope
Abstract
As the countries in Europe have successfully managed to move forward the region’s integration step by step, the European experiences offer three possible models for regional integration with different depths: a free trade arrangement, a single market, and a common currency area. We study in this paper the effect of the three different models of regional integration on total factor productivity to examine the long-run growth implication of individual models. Our evidence suggests that the entry into regional groupings clearly changes the way participating economies grow, no matter which model of regional integration the groupings take. Domestically powered growth becomes less important, and regionally powered growth comes to be the new source of growth. In particular, countries stand to benefit from considerable inter-regional R&D spillovers in addition to intra-regional R&D spillovers if their regional groupings take the form of a single market or a common currency area.
ISSN
1226-8550
Language
English
URI
http://hdl.handle.net/10371/96565
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Graduate School of International Studies (국제대학원)Dept. of International Studies (국제학과)Journal of International and Area StudiesJournal of International and Area Studies vol.21 (2014)
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