The Economics of UK-EU Relations by Nauro F. Campos & Fabrizio Coricelli

Author:Nauro F. Campos & Fabrizio Coricelli
Language: eng
Format: epub
Publisher: Springer International Publishing, Cham

2 Background on FDI, Trade and the European Union: Recent Developments

The objective of this section is to put forward a conceptual framework that helps us to understand the effect of economic integration on FDI inflows. The distinction between shallow and deep integration is useful in this case: shallow integration is epitomized by the free trade area model and is restricted to economic integration, while deep integration combines economic and political aspects (Campos et al. 2015). An important case of deep integration is the customs union model in which economic ties are supported by the creation of common institutions to manage conflict, which may emerge, for instance, regarding the common external tariff. The European Union is the most sophisticated example of deep integration and it is quite remarkable to realize that considerable lacunae remain with respect to our understanding of whether and how EU integration has affected FDI inflows (Campos and Coricelli 2015).

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