With a population of over 500 million and a GDP exceeding $US16
trillion, the European Union (EU) is the world's largest economy.
In 1987, the EU commenced implementation of the Single European
Market (SEM) program. The objective of the SEM was to remove all
internal barriers to trade. It emphasized the centrality of the
four freedoms' to the harmonization of the EU economy: free
movement of goods, services, labour and capital. The 'four
freedoms' have transformed the EU from a customs union to a single
market. In 1999, the EU also adopted a single currency, the euro.
This book provides an economic and political analysis of the EU
Single Market in order to assess its medium-term outcomes across a
range of policy areas. The SEM involves a significant restructuring
of EU economic and competition policy. The most comprehensive
explanations of EU integration have come from international
relations and integration theory. This volume focuses upon the key
debates between neorealist and neoliberal explanations of EU
integration within the framework of the Single Market. This book
will be particularly useful to professionals working in the fields
of European economics, business and finance.
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