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Edited by Miroslav N. Jovanović

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International Handbook on the Economics of Integration, Volume III

Factor Mobility, Agriculture, Environment and Quantitative Studies

Edited by Miroslav N. Jovanović

With this Handbook, Miroslav Jovanović has provided readers with both an excellent stand-alone original reference book as well as an integral part of a comprehensive three-volume set. This introduction into a rich and expanding academic and practical world of international economic integration also provides a theoretical and analytical framework to the reader, presenting select analytical studies and encouraging further research.
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Miroslav N. Jovanović

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Miroslav N. Jovanović

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Miroslav N. Jovanović

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Miroslav N. Jovanović

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Miroslav N. Jovanović

The Introduction (Chapter 1) presents the basic notions related to integration.
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Miroslav N. Jovanović

Chapter 2 deals with dissipating multilateralism, expansion of integration deals, emergence of the mega integration deals and marginalisation of the World Trade Organisation.
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Miroslav N. Jovanović

Chapter 3 overviews issues related to customs unions and free trade areas, which are the most rigorously developed part of the theory of international economic integration. The analysis is carried out through static and dynamic approaches, as well as in partial and general equilibrium frameworks. Increased competition on a secured and enlarged market by means of integration, specialisation and returns to scale receives special treatment, as these are the most important dynamic effects. A discussion of adjustment costs suggests that they do not always represent a serious barrier to integration, especially in the medium and long run.
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Miroslav N. Jovanović

Chapter 4 is devoted to common markets. Factor (labour and capital) mobility lies at the heart of the analysis. Labour migration, including a number of controversies surrounding this issue – particularly which country (sending or receiving) benefits more from integration (or how much) – is outlined in the context of Europe. Prospects for increased foreign direct investment activity and operations of transnational corporations are analysed with respect to integration arrangements of both developed and developing countries. Discussion is supported by statistical data on foreign direct investment in the EU.