The enlargement that encompassed the accession of Greece in 1981 and of Spain and Portugal in 1986 significantly altered the balance of the European Community (EC), while the double shock of EC membership and 1992 could have driven the economies of the new members into depression or, equally, accelerate their modernisation. This important 1990 book from the Centre for Economic Policy Research examines theoretical issues in the integration of a diverse economic region and the combined impact of EC membership, financial integration and the single market programme on the joining countries. There is an introduction by the editors and a foreword by Michael Emerson and Richard Portes.
List of figures; List of tables; Preface; List of conference participants; Foreword Michael Emerson and Richard Portes; 1. Introduction Christopher Bliss and Jorge Braga de Macedo; 2. Adjustment, compensation and factor mobility in integrated markets Christopher Bliss; 3. Integration and the competitiveness of peripheral industry Paul R. Krugman and Anthony J. Venables; 4. The market for cars in the enlarged European Community Alasdair Smith; 5. Financial market integration, macroeconomic policy and the EMS William H. Branson; 6. Macroeconomic adjustment and entry into the EC: a note Paul R. Krugman; 7. Spain and the 'EC cum 1992' shock José Viñals et al; 8. Economic integration in the enlarged European Community: structural adjustment of the Greek economy Louka T. Katseli; 9. External liberalization with ambiguous public response: the experience of Portugal Jorge Braga de Macedo; 10. Soft budgets, hard minds: stray thoughts on the integration process in Greece, Portugal and Spain Dani Rodrik; Index.