ABSTRACT
The objective of the 1992 Programme was to remove non-tariff barriers (NTBs)1 on internal trade in the European Union (EU). In addition, it prepared the ground for monetary integration. The establishment of the Economic and Monetary Union (EMU) led to an enlarged market. This can be extremely profitable for firms involved in international transactions. In a majority of cases these firms are small and medium-sized. It is therefore interesting to find out how they reacted to this enlarged market access. Did they increase their international operations within the EU? Did they change their internationalisation strategies? There are books and articles dealing with integration issues and there
are others about internationalisation of Small and Medium-sized Enterprises (SMEs).2 It may therefore be new and interesting to put the two topics together. In many industries there are SMEs both inside and outside agglomera-
tions.3 Are they affected in the same way by the establishment of the EMU? By including some basics of the new economic geography a comparative study of SMEs located inside agglomerations and those located outside became feasible. The objective of this book is therefore to analyse the impact of the
EMU on international strategies of SMEs in and out of agglomerations or industrial districts. The topic is a connection between integration, internationalisation, location and SMEs. The term EMU is used throughout the book, as a clear separation between European Single Market and EMU would be difficult and as the EMU will be the ‘last consequence’.
