The effort to establish economic, political, arid monetary integration in Europe is one of the great dramas of our time, and the implications of its success or failure are enormous for the rest of the world. In this volume distinguished economists and political scientists address the wide-ranging set of issues confronting the nations of Europe and explore the implications of the European experience for regional integration elsewhere. The distinguished contributors of this volume address an impressively broad range of issues, including the influence of Europe's troubled history since the 1930s, the performance of preferential trade arrangements and their impact on multilateral institutions such as the GATT, the particular impact of monetary integration, and the significance of all these developments for the political future of Europe. The Challenge of European Integration is a key document in the interpretation and understanding of current developments in Europe. It is required reading not just for economists and political scientists but for any student of contemporary Europe and of the emerging system of global trade and finance.

part Part One|20 pages


chapter 1|18 pages

Introduction: The Challenge of European Integration

ByBerhanu Abegaz, Patricia Dillon, David H. Feldman, Paul F. Whiteley

part Part Two|56 pages

The International Economy

chapter 2|54 pages

The International Economy: Historical Perspectives and Future Prospects

ByBarry Eichengreen

part Part Three|89 pages

Preferential Trade Arrangements

chapter 4|16 pages

Regional Arrangements: GATT, Rules and Property Rights

ByJ. Michael Finger

chapter 5|7 pages

Regional Blocs: Policy Coordination and Trade Strategy

ByGeza Feketekuty

chapter 6|11 pages

The New Regionalism and Developing Economies

ByBerhanu Abegaz

part Part Four|86 pages

Monetary Integration

chapter 7|35 pages

The Macroeconomics of Currency Zones

ByMorris Goldstein, Jacob A. Frenkel

chapter 9|17 pages

What Went Wrong with the EMS and European Monetary Union

ByMichele Fratianni

chapter 10|16 pages

Ten Days that Shook the EC

ByRichard J. Sweeney

part Part Five|64 pages

The Political Dimensions of European Integration

chapter 11|62 pages

The Single European Act, the Maastricht Accord and the Emerging European Polity

ByPhilippe C. Schmitter