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Theoretical Foundations of European Economic Integration

  • Mark Baimbridge
  • Ioannis Litsios
  • Karen Jackson
  • Uih Ran Lee
Chapter

Abstract

This chapter discusses the economic theories underpinning the applied areas examined in further chapters. In particular, it reviews economic thinking in terms of the key aspects of international trade, such as customs union theory and the development of a single internal market regarding the free movement of factors of production, that have driven the post–World War II agenda of regional trade agreements across Europe. Additionally, to complete the move from ‘shallow’ to ‘deep’ regional economic integration, the European Union (EU) has moved to a monetary union, bringing to the fore the theory of optimum currency areas. However, the emphasis of this chapter is on how these paths of economic integration have come under pressure so that it is increasingly evident that not all members of either trade arrangements or the eurozone benefit equally, or indeed at all.

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Copyright information

© The Editor(s) (if applicable) and The Author(s) 2017, corrected publication March 2018. 2017

Authors and Affiliations

  • Mark Baimbridge
    • 1
  • Ioannis Litsios
    • 2
  • Karen Jackson
    • 3
  • Uih Ran Lee
    • 4
  1. 1.School of Management University of BradfordBradfordUK
  2. 2.Plymouth Business School University of PlymouthPlymouthUK
  3. 3.Westminster Business School University of WestminsterLondonUK
  4. 4.Department of Economics and Related StudiesUniversity of YorkYorkUK

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