Institutional Integration and Economic Growth in Europe

Abstract : 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.
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https://hal.archives-ouvertes.fr/hal-01881789
Contributor : Luigi Moretti <>
Submitted on : Wednesday, September 26, 2018 - 12:15:25 PM
Last modification on : Sunday, January 19, 2020 - 6:38:28 PM

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Nauro Campos, Fabrizio Coricelli, Luigi Moretti. Institutional Integration and Economic Growth in Europe. Journal of Monetary Economics, Elsevier, 2019, 103 (May 2019), pp.88-104. ⟨10.1016/j.jmoneco.2018.08.001⟩. ⟨hal-01881789⟩

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