The Single Market virtual issue
The United Kingdom’s impending departure from the European Union is an occasion to reflect on the nature of that Union, which remains insufficiently understood and not only in Britain. In particular, Brexit is highlighting the crucial importance to the European economy of the Single Market, which was put in place during the late 1980s and early 1990s following Lord Cockfield’s famous 1985 White Paper. That document identified three types of barriers which had to be removed in order to create a single European market: physical barriers (notably border controls), technical barriers (for example different product regulations in different countries), and fiscal barriers (for example barriers relating to the implementation of different excise taxes and VAT regimes).
Brexit is a teachable moment, and its pedagogical impact will be maximised if we understand the history and underlying logic of the institutions which the United Kingdom is now, apparently, about to leave. Hopefully this virtual issue will contribute to that educational process.
The articles are freely available on the Oxford University Press website.
[Read the full Single Martet virtual issue]
- The Competition Effects of the Single Market in Europe
Chris Allen, Michael Gasiorek, and Alasdair Smith - EEC Integration Towards 1992: Some Distributional Aspects
Damien J. Neven - The Growth Effects of 1992
Richard Baldwin - Europe 1992: Issues and Prospects for the Financial Markets
Vittorio Grilli - EFTA and the Internal European Market
Victor D. Norman - The Future of Value Added Tax in the European Union
Michael Keen and Stephen Smith - The Costs and Benefits of Leaving the EU: Trade Effects
Swati Dhingra, Hanwei Huang, Gianmarco Ottaviano, João Paulo Pessoa, Thomas Sampson, and John Van Reenen