Published in:Princeton University, International Finance Essay Series ; No.182, 1991
Extent:
1 Online-Ressource (60 p)
Language:
English
Origination:
Footnote:
In: Princeton University, International Finance Essay Series, No.182, 1991
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 1991 erstellt
Description:
The macroeconomic implications the Single Market is likely to have for the rest of the world, in particular the United States and Japan, are considered in this essay. Trade diversion will be an unavoidable result of Europe 1992 but that the patterns of the EC's external trade and financial flows will also be influenced by faster economic growth within the Community and by the level of protection it adopts. In analyzing the external financial aspects of the integration process, Shigehara emphasizes the importance of increasing competition, not only among European banks but also between European and non-European banks, for the realization of greater economic efficiency. He concludes by advocating closer cooperation between Europe, the United States, and Japan, coupled with improved surveillance