ࡱ> egdG <bjbjَ f8](((((((<<<<<4pL<xxxxn%$I$(]]]((xx;](x(x<<((((]:,((x,zW&<< Ӱԭ University, EURUS EUROPEAN ECONOMIC INTEGRATION (EURR 5105) Course outline Winter term 2004 Instructor: Vladimir Popov, Tel.: 8480, e-mail: vpopov@ccs.carleton.ca Classes: Mondays, 14:30-17:30, Loeb D880 Office hours: Tuesdays 13:00-14:30; Thursdays 13:00-14:30. This seminar-format course will focus on economic issues and policies of European integration and the development of the European Union in the post-World War II period. THE REQUIRED READINGS FOR THE COURSE are recommended for each week (see below); 3 books (all on reserve in the library) will be used most extensively: 1.Molle, Willem. The economics of European integration : theory, practice, policy. Aldershot ; Brookfield, Vt., USA : Ashgate, 1997. 2. Apel, Emmanuel. European monetary integration 1958-2002 / Emmanuel Apel. London ; New York : Routledge, 1998. 3. Jovanovic, Miroslav N. Title European economic integration : limits and prospects. London : Routledge, 1997. 4. Neal, L., D. Barbezat. The Economics of the European Union and the Economies of Europe. NY, OUP, 1998 Normally 3-5 papers would be discussed every week. Students would be offered to read the papers in advance and to present/comment on these papers in the class. Discussion would follow. Last 2-3 weeks would be devoted to the presentation of students research papers. The topic should relate to European economic integration and needs to be approved by the instructor. The deadline for the research papers is March 23, 2004. Components of the final grade: Class attendance 10% In-class presentations - 40% Term paper - 50% Please be aware that plagiarism is a serious offense and one that should be recognized and avoided. For further information regarding this subject, please see the Economics website or pick up a handout from the Department. Students with disabilities requiring academic accommodations in the course are encouraged to contact a coordinator at the Paul Menton Centre for Students with Disabilities to complete the necessary letters of accommodation. After registering with the PMC, make an appointment to meet and discuss your needs with the instructor at least two weeks prior to the midterm exam. This is necessary in order to ensure sufficient time to make the necessary arrangements. Please note the following deadline for submitting completed forms to the PMC for formally scheduled exam accommodations: 12 March 2004. WEEK 1. Introduction. Trends in world economy and regional economic integration. Rodriguez, Francisco and Dani Rodrik (1999). TRADE POLICY AND ECONOMIC GROWTH: A Skeptics Guide to the Cross-National Evidence. NBER, WP #7801.  HYPERLINK http://www.bsos.umd.edu/econ/Rodriguez/W7081.pdf http://www.bsos.umd.edu/econ/Rodriguez/W7081.pdf Williamson, Jeffrey G. (2002). Winners and Losers over Two centuries of Globalization. WIDER Annual lecture 6. WIDER/UNU, November 2002 ( HYPERLINK http://post.economics.harvard.edu/faculty/jwilliam/papers/w9161.pdf http://post.economics.harvard.edu/faculty/jwilliam/papers/w9161.pdf) Barry Eichengreen and Yung Chul Park. Why Has There Been Less Financial Integration in Asia than in Europe? January 2003  HYPERLINK http://emlab.berkeley.edu/users/eichengr/research/parkpaper8sep5-03.pdf http://emlab.berkeley.edu/users/eichengr/research/parkpaper8sep5-03.pdf Bailey, Michael, Penny. Fowler and Kevin Watkins (2002). Europes Double Standards. How EU Should Reform Its Trade Policies with Developing World. Oxfam Briefing Paper 22, 2002 ( HYPERLINK http://www.oxfam.org.uk/policy/papers/22europe/22europe.html http://www.oxfam.org.uk/policy/papers/22europe/22europe.html). Polterovich, V., Popov, V. Stages of growth and economic policy (available from the instructor) WEEK 2. EU history, institutions and growth. Molle, Ch. 1-4. Jovanovic, Ch. 1. Apel, Introduction. Neal, Barbezat, Ch. 1, 2 Barry Eichengreen and Yung Chul Park. Why Has There Been Less Financial Integration in Asia than in Europe? January 2003  HYPERLINK http://emlab.berkeley.edu/users/eichengr/research/parkpaper8sep5-03.pdf http://emlab.berkeley.edu/users/eichengr/research/parkpaper8sep5-03.pdf Alan V. Deardorff and Robert M. Stern. EU Expansion and EU Growth The University of Michigan. Presented at International Economic Association, 13th World Congress, September 9-13, 2002, Revised October 29, 2002 ( HYPERLINK http://www.econ.lsa.umich.edu/~alandear/writings/ http://www.econ.lsa.umich.edu/~alandear/writings/ ). Rodriguez, Francisco and Dani Rodrik (1999). TRADE POLICY AND ECONOMIC GROWTH: A Skeptics Guide to the Cross-National Evidence. NBER, WP #7801.  HYPERLINK http://www.bsos.umd.edu/econ/Rodriguez/W7081.pdf http://www.bsos.umd.edu/econ/Rodriguez/W7081.pdf WEEK 3. Custom union theory (common market for goods and services) Molle, Ch. 5 Jovanovic, Ch. 7 Neal, Barbezat, Ch. 3 WEEK 4. Custom union reality (common market for goods and services) Molle, Ch. 6, 7 Jovanovic, Ch. 7 Neal, Barbezat, Ch. 3, 4 Frankel, Jeffrey A. and David Romer (1999). Does Trade Cause Growth? American Economic Review 89, June, pp. 379-99. Henrekson, Magnus, Johan Torstensson, and Rasha Torstensson (1997). Growth Effects of European Integration, European Economic Review 41 1997, pp. 1537-57. HYPERLINK "http://haas.berkeley.edu/~arose"Andrew K. Rose. Do We Really Know that the WTO Increases Trade? NBER Working Paper No. 9273. October 2002 ( HYPERLINK http://papers.nber.org/papers/W9273 http://papers.nber.org/papers/W9273) Andrew K. Rose. Which International Institutions Promote International Trade? Draft: June 22, 2003 ( HYPERLINK http://faculty.haas.berkeley.edu/arose/RecRes.htm#GATTWTO http://faculty.haas.berkeley.edu/arose/RecRes.htm#GATTWTO) WEEK 5. Common market for factors of production theory and reality Molle, Ch. 8, 9, 10 Jovanovic, Ch. 9, 10 Neal, Barbezat, Ch. 4 WEEK 6. Monetary union theory Dornbush, R., S. Fisher et al. Macroeconomics, any edition, chapters on Open economy macroeconomics monetary and fiscal policies under fixed and flexible exchange rates with and without capital mobility (Mundell-Flemming model) A Theory of Optimum Currency Areas. International Economics, Robert A. Mundell, New York: Macmillan, 1968, pp. 177-186 ( HYPERLINK http://www.columbia.edu/~ram15/ie/ie-12.html http://www.columbia.edu/~ram15/ie/ie-12.html ) Hiromasa Fukuda. The Theory of Optimum Currency Areas: An introductory survey Faculty of Economics, Keio University. Mita Festival 2002 paper  HYPERLINK http://www.clb.mita.keio.ac.jp/econ/kaji/mitafest/fukuda.pdf http://www.clb.mita.keio.ac.jp/econ/kaji/mitafest/fukuda.pdf Robert Mundell (2000). Currency Areas, Exchange Rate Systems and International Monetary Reform. Paper delivered at Universidad del CEMA, Buenos Aires, Argentina, on April 17, 2000 (  HYPERLINK http://www.columbia.edu/~ram15/cema2000.html http://www.columbia.edu/~ram15/cema2000.html ) WEEK 7. READING WEEK Do not forget: research papers are due on March 23, 2004 WEEK 8. Monetary union reality (Euro and ECB) Molle, Ch. 17 Jovanovic, Ch. 2 Apel, Ch. 1, 2, 3, 4, 5 Neal, Barbezat, Ch. 7 Barry Eichengreen and Jeffry Frieden (2000). The Political Economy of European Monetary Unification: An Analytical Introduction", February 2000. Preliminary version of editors' introduction to the second edition of Barry Eichengreen and Jeffry Frieden, The Political Economy of European Monetary Unification, 2000.  HYPERLINK http://emlab.berkeley.edu/users/eichengr/research/Westview2.pdf http://emlab.berkeley.edu/users/eichengr/research/Westview2.pdf Andrew K. Rose (2002). The Effect of Common Currencies on International Trade: Where do we Stand? August 7, 2002 ( HYPERLINK http://faculty.haas.berkeley.edu/arose/MASOP02.pdf http://faculty.haas.berkeley.edu/arose/MASOP02.pdf). See also other papers on the issue by A. Rose at his site. Sebastian Edwards and Igal Magendzo (2003). A Currency of Ones Own? An Empirical Investigation on Dollarization and Independent Currency Unions. NBER Working Paper No. 9514, February 2003 ( HYPERLINK http://www.anderson.ucla.edu/faculty/sebastian.edwards/owns.pdf http://www.anderson.ucla.edu/faculty/sebastian.edwards/owns.pdf) Ferguson, Niall; Kotlikoff, Laurence J. HYPERLINK "citation.asp?tb=1&_ug=dbs+buh+sid+1F3DCC3D%2D2C14%2D44A5%2D9909%2D769FB962A78C%40sessionmgr2+4C73&_uh=btn+N+db+buh+idb+buhish+jdb+buhjnh+op+phrase+ss+ID++%22faf%22+A1F9&_us=dstb+ES+fcl+Aut+or+Date+ri+KAAACB2D00065169+sl+%2D1+sm+ES+5BBF&_uso=db%5B0+%2Dbuh+hd+0+op%5B0+%2D+st%5B0+%2DJN++%22Foreign++Affairs%22++and++DT++20000301+tg%5B0+%2D+27A6&fn=1&rn=10"The Degeneration of EMU. Foreign Affairs, Mar/Apr2000, Vol. 79 Issue 2, pp.110-22. WEEK 9. Regional policy. Fiscal harmonization. Coordination of economic policies. Molle, Ch. 16, 18, 19 Jovanovic, Ch. 3, 8 Neal, Barbezat, Ch. 5 Edwards, J. and M. Keen (1996). Tax competition and Leviathan, European Economic Review, 40, pp.113-134. European Commission, Co-ordination of economic policies in the EU: a presentation of key features of the main procedures, Euro-Papers, Directorate General Economic and Financial Affairs, no. 45, July 2002. Available on-line.(Commission is found on site www.europa.eu.int European Commission, Communication from the Commission on Streamlining the Annual Economic and Employment Policy Co-ordination Cycles, Brussels, 3 September 2002. Available on-line. European Commission, Communication from the Commission to Council and the European Parliament on Strengthening the co-ordination of budgetary policies, Brussels, 27 November 2002. Available on-line. European Central Bank, The Economic policy framework in EMU, Monthly Bulletin, November 2001. Available on line at www.ecb.int WEEK 10. Policies in specific sectors of activity (agriculture, manufacturing, energy, services). Molle, Ch. 11-15 Jovanovic, Ch. 4, 5, 6, 11,12,13. Neal, Barbezat, Ch. 6 Mary Anne Normile, Anne B.W. Effland, and C. Edwin Young U.S. and EU Farm Policy? How Similar? Pp. 14-28. HYPERLINK "http://www.ers.usda.gov/publications/WRS0404/WRS0404.pdf"http://www.ers.usda.gov/publications/WRS0404/WRS0404.pdf WEEK 11. Enlargement of the EU Popov, V. Shock Therapy versus Gradualism: The End of the Debate (Explaining the Magnitude of the Transformational Recession). Comparative Economic Studies, Vol. 42, Spring, 2000, No. 1, pp. 1-57(available in the library - on reserve for ECON 3700 course). Lavigne, Marie. Conditions for Accession to the EU. Comparative Economic Studies, Fall 1998, Vol. 30, No. 3, pp. 38-57. Lavigne, Marie. The Economics of Transition. From Socialist Economy to Market Economy. MacMillan Press Ltd., 1999, ch. 6 (Transition through breaking up). *Nuti, D. Mario. THE COSTS AND BENEFITS OF EURO-ISATION IN CENTRAL-EASTERN EUROPE BEFORE OR INSTEAD OF EMU MEMBERSHIP. William Davidson Institute Working Paper 340 ( HYPERLINK http://eres.bus.umich.edu/docs/workpap-dav/wp340.pdf http://eres.bus.umich.edu/docs/workpap-dav/wp340.pdf) De Grauwe, Paul (2003). The Euro at Stake? The Monetary Union in an Enlarged Europe CES ifo Economics Studies, Vol. 49, 1/2003, pp. 103-21 ( HYPERLINK http://www.cesifo-economic-studies.de http://www.cesifo-economic-studies.de) Kaminski, Bartlomiej. The EU Factor in Trade Policies of Central European Countries (November 1999). WB Policy Research Working paper No. 2239 ( HYPERLINK http://wbln0018.worldbank.org/research/workpapers.nsf/0/510e90b7b66ba95a8525682c006784fc/$FILE/wps2239.prn.pdf http://wbln0018.worldbank.org/research/workpapers.nsf/0/510e90b7b66ba95a8525682c006784fc/$FILE/wps2239.prn.pdf). EBRD Transition Report, 1998, 1999, 2002, 2003 (Government documents library) Sachs, Jeffrey D. and Andrew M. Warner. Achieving Rapid Growth in the Transition Economies of Central Europe. Harvard Institute for International Development. Development Discussion Paper No. 544 July 1996 ( HYPERLINK http://www.hiid.harvard.edu/pub/pdfs/544.pdf http://www.hiid.harvard.edu/pub/pdfs/544.pdf) WEEK 12. Presentation of the papers WEEK 13. Presentation of the papers (?) WEEK 14. Presentation of the papers ======================================= The following books may be useful for research papers: Paul De Grauwe, THE ECONOMICS OF MONETARY INTEGRATION, Third or Fourth Edition. Oxford: Oxford University Press, 1997 or later. Available at the U of Ottawa Bookstore. E. Apel, CENTRAL BANKING SYSTEMS COMPARED: the ECB, the pre-euro Bundesbank and the Federal Reserve System. London and New York: Routledge, 2003. Available at the U of Ottawa Bookstore. M.J. Artis and N. Lee (eds). THE ECONOMICS OF THE EUROPEAN UNION: POLICY AND ANALYSIS, Second Edition. Oxford University Press, 1997. The Impact of EMU on Europe and Developing Countries. Ed. By Charles Wyplosz. Oxford university press, 2001 Barry Eichengreen. EUROPEAN MONETARY UNIFICATION: Theory, Practice and Analysis. MIT Press, 1997. H. Wallace and W. Wallace (eds). POLICY-MAKING IN THE EUROPEAN UNION. Oxford University Press, 1996. P. Thody. AN HISTORICAL INTRODUCTION TO THE EUROPEAN UNION. London: Routledge, 1997 M.J. Dedman. THE ORIGINS AND DEVELOPMENT OF THE EUROPEAN UNION 1945-95. London: Routledge, 1996. D. Dinan. EVER CLOSER UNION? AN INTRODUCTION TO THE EUROPEAN COMMUNITY. New York: St. Martin's Press, 1996. J.W. Young. BRITAIN AND EUROPEAN UNITY, 1945-1992. Macmillan, 1993. Michael Emerson, Daniel Gros, Alexander Italianer, Jean Pisani-Ferry, and Horst Reichenbach. ONE MARKET, ONE MONEY. Oxford University Press, 1992. Michele Fratianni and Jurgen von Hagen. THE EUROPEAN MONETARY SYSTEM AND EUROPEAN MONETARY UNION. Westview Press, 1992. Daniel Gros and Niels Thygesen. EUROPEAN MONETARY INTEGRATION: FROM THE EUROPEAN MONETARY SYSTEM TO THE EUROPEAN MONETARY UNION. Longman Group Limited (London), 1992. Useful web sites: - CEPR in London (www.cepr.org): CEPR has European integration as one of its areas of research. There is a series of reports called "Monitoring European Integration" and another one on financial markets The Centre for European Integration Research in Bonn, Germany, (www.zei.de) has a large number of reports on rather specific topics, including a lot with a Eastern European perspective. - Finally, there is of course the EU home page with a lot of reports on the effects of integration (http://europa.eu.int/), but these reports should be taken with a grain of salt. 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