Abstract
Tariffs and quantitative restrictions on trade among the members of the European Economic Community (EEC) have been eliminated almost totally. It is expected that by 1992 the following, remaining barriers to internal trade will also be removed:
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1.
Customs procedures
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2.
Differences in technical regulations
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3.
Limitations on the movement of capital and labour
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4.
Differences in public procurement policies
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5.
Different currencies with accompanying exchange rate uncertainties and costs of conversion and transactions.
The first draft of this paper was written while I served as the Deutsche Bundesbank Visiting Professor of International Finance at the Free University of Berlin.
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© 1992 Silvio Borner and Herbert Grubel
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Grubel, H. (1992). Effects on the Rest of the World: Trade Diversion, Creation and Wealth. In: Borner, S., Grubel, H. (eds) The European Community after 1992. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-12048-2_2
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DOI: https://doi.org/10.1007/978-1-349-12048-2_2
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