Institutional integration and economic growth in Europe

• 成果类型: Article
• 署名作者: Campos, Nauro F.; Coricelli, Fabrizio; Moretti, Luigi
• 署名单位: Brunel University; Swiss Federal Institutes of Technology Domain; ETH Zurich; Paris School of Economics; Centre for Economic Policy Research - UK
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/j.jmoneco.2018.08.001
• 发表日期: 2019
• 页码: 88-104
• 关键词: economic growth; integration; institutions; European Union; Synthetic control method

摘要

The literature on the growth effects of European integration remains inconclusive. This is due to severe methodological difficulties mostly driven by country heterogeneity. This paper addresses these concerns using the synthetic control method. It constructs counterfactuals for countries that joined the European Union (EU) from 1973 to 2004. We find that growth effects from EU membership are large and positive, with Greece as the exception. Despite substantial variation across countries and over time, we estimate that without European integration, per capita incomes would have been, on average, approximately 10% lower in the first ten years after joining the EU. (C) 2018 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY-NC-ND license. (http://creativecommons.org/licenses/by-nc-nd/4.0/)