Volume 17, Numbers 4-5, 509-524, DOI: 10.1007/s11079-006-0362-x

Measuring the Economic Costs and Benefits of the EU

Patrick Minford

From the issue entitled "Special Issue on Perspectives on Economic, Financial and Monetary Integration: Essays in Honour of Michele Fratianni"

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Abstract

The EU has pursued protectionist policies not merely in food but also in manufacturing at the customs union level. In services it has not dismantled much of the existing national protectionism. The economic costs are calculated here at some 3% of GDP for the UK and some 2% for the rest of the EU. Added to its social interventionism, these costs suggest that the EU has put political integration before economic efficiency.

Keywords  protectionism - manufactures - anti-dumping - tariff equivalent - customs union - competition

This paper draws heavily on my book with Vidya Mahambare and Eric Nowell (Minford et al., 2005). I am grateful for helpful comments to Kim Huynh, Michele Fratianni and other participants at the IU 2006 conference in Fratianni’s honour. I contributed this paper in recognition of many pleasurable discussions with Michele over the years on this and many other topics.
JEL Classification Numbers: F13, F14

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