Trade integration in the European Union: Openness, interconnectedness, and distance

Research output: Contribution to journalArticlepeer-review

Authors

Colleges, School and Institutes

External organisations

  • Fundació General de la Universitat de Valencia (FGUV)
  • Universitat Jaume I

Abstract

This article presents a set of indicators to measure regional trade integration, focusing on the case of the European Union. We propose measures of openness, connectedness and integration which are tuned to evaluate not only how these components contribute to the advance of international integration, but also to control for the potential threat posed by the proliferation of regional trade agreements to trade globalization. Although this and related questions have been examined from several perspectives, the present article explicitly attempts to quantify how regional trade agreements either intensify or thwart trade globalization. Results show that the process of trade integration has intensified among European Union members, whereas integration with non-members is advancing slowly. Our indicators provide a more complete view of the differing speeds of integration, which depend on whether the component of integration considered is openness or connectedness.

Details

Original languageEnglish
Article number101167
JournalNorth American Journal of Economics and Finance
Volume52
Publication statusPublished - Apr 2020

Keywords

  • Connectedness, Distance, European Union, Trade agreement, Trade integration

ASJC Scopus subject areas