Integration in goods and factors: the role of flows and revenue

Article Abstract:

The regional economic integration efforts illustrated by the European Community (EC) and the proposed North American Free Trade Agreement (NAFTA) are examined. The paper compares gains from integration when trade and factor flows are impeded by revenue-generating policies with those when trade impediments do not generate revenue. The elimination of non-revenue generating restrictions among member countries has very different effects from those predicted in the elimination of tariff restrictions. The optimal international integration strategy for a small country is outlined and discussed.

European Economic Community

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Time, speeds, flows and densities in static models of road traffic congestion and congestion pricing

Article Abstract:

The major characteristics of static models of road traffic congestion and a distinction between models that deal with 'continuous demand' and those that aim to explain 'peak demand' are analyzed. The analysis centers on the case of continuous demand, particularly on the difficulties resulting from the backward bending cost curve. The importance of the backward-bending section of this curve is investigated by showing that 'equilibria' on this section are dynamically infeasible. The implications for static models of peak congestion are also discussed.

Models, Traffic congestion, Traffic engineering

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Integration among unequals

Article Abstract:

The impact of regional integration on economic growth is examined in the context of two countries of different sizes and diverse resources. An endogenous growth framework is utilized to make the rate of change of manufacturing output a function of the rate of technological progress in the economy, which in turn relates to the development of new types of capital goods. The presence of integrating factors such as free trade, free labor mobility or free flow of knowledge and ideas impacts the potential benefit integration can generate.

International aspects, Markets (Economics), European cooperation

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