Chapter

The Economic Transformation of Europe

Neil Fligstein

in Euroclash

Published in print October 2009 | ISBN: 9780199580859
Published online October 2011 | e-ISBN: 9780191702297 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199580859.003.0003
The Economic Transformation of Europe

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At the core of the European Union (EU) has been the creation of a single market across Western Europe. Trade grew as the EU policy produced more rules and more enforcement. This chapter shows that European economic integration is near completion in many ways. The EU has provided a common set of rules that make it difficult for governments to raise barriers to entry to foreign firms, and markets — at least formally — are open. Trade accounts for about 40 percent of gross domestic product (GDP) across Europe. In fact, it is over 70 percent of exports from the countries that make up the EU are to other countries within the EU.

Keywords: European Union; single market; economic integration; trade; exports; market economy

Chapter.  12237 words.  Illustrated.

Subjects: European Union

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