Why Should a Country Join a Customs Union?
GRIN Verlag, 2009 - 28 pages
Essay from the year 2008 in the subject Law - European and International Law, Intellectual Properties, grade: A, University of Edinburgh, course: Introduction to the European Union, 21 entries in the bibliography, language: English, abstract: In my essay, I deal with the issue: "Why should a country join a customs union?" Regarding to this question, I try to figure out a couple of facts which might encounter countries to join a customs union. After a brief statement of the economics in the international context I'll consider the advantages and disadvantages of joining a customs union, compare the advantages and disadvantages and finally give a brief statement. For supporting my conclusions I'll refer to the development in the EC.
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akademische Texte arises when consumers benefit common external tariff competition between firms concept of trade consumer switched cost for products cost source cost supplier country join creating a customs customs union Daniel Burchardt declining cost domestic economic domestic investment domestic supplier dynamic effects EC six economic gains economic welfare economics of scale effect of trade efficiency which means establishing a customs European Union export external taxes gains from joining Germany GRIN Verlag Hence consumers high cost higher taxes income Hogendorn home country switch increased competition inefficiencies international context Intra-CU joining a customs Jovanovic Kindleberger Larger markets leads Lindert loss power low cost external lower price national economics order to survive output partner country Pelkmans prices for products produced in country products produced reduces source of supply specialisation static and dynamic Static effect Stimulation of domestic technological third countries trade creating gains trade creation trade diversion trade diverting losses