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The competition was expected to increase in the integrated market was expected to result to productive allocation of the economic resources. Integration was aimed at providing the investors with incentives to invest in innovations improving the dynamic efficiency of the economy. The consumers in the market benefited from the integration as the prices were low and there was more variety of goods and services. The internal market has played an important role in promoting integration though the potential has not been exploited fully. This paper gives an outlook at the reasons why the states engage in market integration, the benefits and shortcomings.
There has been a constant relation between the political system and the legislative system over the past few decades resulting to the implementation and formulation of internal programmes and policies that contribute to integration. Law and politics are seen to interact and this has led to the laying down of policies that lead to the strengthening of the regional integration through increased competition, regional policy and industrial policy as explained by Geradin (2004). This has led to drastic improvements in the agricultural sector, fisheries, social systems and the environment. The level of justice has improved leading to the overall changes in the home affairs of the member states. This has led to the adoption of a common currency and market liberalisation in the region. This is however a representative since in most sectors there is a portfolio of initiatives instead of having a single one encompassing many policies.
The European Union was initiated in the 1980s with the publication of the White Paper that mainly dealt with the establishment of a common market. This was mainly to fight against the political, monetary and economic crisis experience in the past decades. The union helped in the restoring confidence in the European market and improving the performance of
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“Why Did European States Engage in a Process of Economic Integration Essay”, n.d. https://studentshare.org/miscellaneous/1569638-why-did-european-states-engage-in-a-process-of-economic-integration-are-the-original-reasons-still-valid-today.
As years pass on there is an increasing trend witnessed in regional economic integration. According to World Trade Organisation (WTO) report, more than 150 member countries are enlisted in one or the other trade agreements at regional level. Generally, the countries those who are geographically near were come closer to each other and establish economic linkages through preferential trade agreements and form regional integration.
Monica invited both Charlie and Rachel back to her apartment for tea. While having tea and admiring the purchase’s Monica had made, Rachel proposed that they play a game, “truth or dare.” When it was Rachel’s turn, she chose a dare and Charlie challenged her to a game of throwing knives, where they-Charlie and Monica-would each throw one knife close to Rachel’s foot without hitting her.
The main focus in the essay is on the concept of economic integration and the factual economic impacts this process has on the countries involved. Economic integration is often viewed as an arrangement between different regions spotted by the eradication in trade barriers among countries and the synchronization between monetary and fiscal policies.
8 The European Union’s Global Influence: 9 The Role and Relative Power of the Various European Union Institutions: 10 State Power to Influence and Remain in the Driving Seat Within the EU and Some of the Treaties that Influenced the Power Balance between the Member States and the EU Institutions 11 Intergovernmentalism and Supranationalism in the European Union 13 Theories as to Why EU Member States Continue to Remain in the Driving Seat Despite the Integration Advances in the European Union 14 Recent Events at the European Union and their Impact on the Union’s Driving Power 17 Conclusion 19 Bibliography 20 “Despite the Extensive Advances in the Integration of the European Union, the M
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