Integration And Globalization - Challenges for Developed and Developing Countries

The main challenges the European Single Market is facing in the 21st century result from the enlargement to Central and Eastern Europe, the EMU, and the globalization of trade and investment that has aided the rise of competitive emerging markets. This state-of-the-art book provides fresh theoretical and empirical evidence on the challenges presented by integration and globalization for both developed and developing countries. The authors demonstrate how the European Single Market remains a work in progress with many critical issues still to be addressed. These include the rigidities in product and labor markets, the need for innovation and quality upgrading, and the rapid catch-up of new member countries. They go on to show how firms use the opportunities provided by integration and globalization to fragment their production processes internationally, which brings gains but also requires structural adjustment. The book also argues that global environmental coordination may be less detrimental to the growth prospects of developing countries than is commonly believed. Illustrating a number of methodologies, this book will be a great resource tool for postgraduates and undergraduates in the fields of international economics and business, as well as researchers and policy-makers.

Contents: Preface PART I: OVERVIEW 1. Integration and Globalization: An Overview Helena Marques, Elias Soukiazis and Pedro Cerqueira PART II: EUROPEAN ECONOMIES AND INTEGRATION 2. Challenges for the Internal Market in the 21st Century Fabienne Ilzkovitz, Adriaan Dierx, Viktoria Kovacs and Nuno Sousa 3. Testing Nominal Rigidities in an Integrated Economy: An Application to Spain Maria Ángeles Caraballo and Carlos Usabiaga 4. Innovation, Competitiveness and Growth: The Case of Central and Eastern European Countries Eleonora Cavallaro and Marcella Mulino 5. Price Convergence in the New EU Member States: Selected Aspects and Implications Václav Zd’árek PART III: DEVELOPING ECONOMIES AND GLOBALIZATION 6. Outsourcing: A Story of Metamorphosis Soumodip Sarkar 7. International Spillovers and Learning by Doing in a Regionalized Model of Climate Change: A Post-Kyoto Analysis Nicola Cantore 8. Assessing Exchange Rate Pass-Through in India During Recent Globalization Sushanta Mallick and Helena Marques 9. A Dynamic CGE Analysis of the EU–Jordan FTA: Welfare and Policy Implications Omar Feraboli Index