Single European Act
- Functionalism & Intergovernmentalism
Revival in economic and political co-operation in Western Europe
- The removal of non-tariff barriers, Integration market – financial service
- Monetary integration and coordination of macroeconomic policy
Change of Institutions
- Majority Voting for the Council Ministers
integration than multilateral trade agreements because negotiations occur among a smaller number of like minded partners.
RTAs may therefore have a positive demonstration effect on multilateral trade negotiations.
1952 ECSC (European Coal and Steel Community)
↓
1957 EEC (European Economic Community)
↓
1967 EC (European Community)
↓
1993 EU (European Union)
The econom
European markets have made long term integration.
- When Dow Johns goes down 1%, Kospi goes down 0.2% with long term relationship.
3) The causes of Stock Market Integration
① Impact of the United State
First, the reason of increasing in market integration movement is because the United State acted as the driving force behind global economic growth over the Asian financial cris
Ⅰ. FTA(Free Trade Area)
(1)The Definition of FTA
Free Trade Area is a designated group of countries that have agreed to eliminate tariffs, quotas and preferences on most (if not all) goods between them.
It can be considered the second stage of economic integration. the stage of economic integration
Economic integration is a term used to describe how different aspects between economi
European Community
Enlargement
The Treaty of Lisbon (2007-2009)
- EU President
Single Market
Common Market + Custom Union
Free circulation of goods, capital, people and services
within the EU
Monetary Union (1999)
The Maastricht Treaty in 1993
Euro zone – 16 members
Objectives - To help build a single market,
political symbol of integration and