North American Economic Integration

North American Economic Integration

Theory and Practice

Norris C. Clement, Gustavo del Castillo Vera, James Gerber, William A. Kerr, Alan J. MacFayden, Stanford Shedd, Eduardo Zepeda and Diana Alarcón

This highly accessible book explains the theoretical, historical and political background of the North American Free Trade Agreement (NAFTA), its impact and the debates surrounding its existence. In addition the authors provide a brief introduction to the theory of economic integration as well as a succinct overview of the evolution of the global economy, and the institutions that manage it, in the post World War II period.

Chapter 5: Canada’s Economic Development and Integration

Norris C. Clement, Gustavo del Castillo Vera, James Gerber, William A. Kerr, Alan J. MacFayden, Stanford Shedd, Eduardo Zepeda and Diana Alarcón

Subjects: business and management, international business, economics and finance, international economics

Extract

Page 157  5. Canada's Economic Development and Integration  The theme of this book is North American economic integration. As economists have long known, the advantages of international trade and integration stem largely  from the differences amongst the parties involved. This chapter deals with the dual issues of economic differences and economic integration as viewed from a Canadian  perspective. There are two fundamental aspects of the Canadian situation which differentiate it from the United States and Mexico: Canada's geographical setting, and  the importance of regionalism in Canada. After a discussion of these two defining characteristics of the Canadian reality this chapter covers:  1. a brief history of Canada's economic development prior to World War II (1939), with special emphasis on a specific theory of economic development (the  ‘staples’ theory) and on policies of that era relating to international trade and integration;   2. a review of the Canadian economy since World War II, with particular attention paid to evolving trading relationships and the question of whether these have  affected the performance of the economy or the ability to exercise independent economic policies;   3. a brief survey of Canada's economic resources in the 1990s with special emphasis upon its people (‘human capital’); and   4. a discussion of a number of recent trade­related policy issues in Canada including Canada's social and regional development programs, the place of ‘cultural’  industries, foreign ownership, inter­   Page 158  provincial trade barriers as indicated by the recent ‘beer wars’, separation in Quebec and government for indigenous peoples.   GEOGRAPHY...

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