ENP Newswire:
Jens Weidmann: Speech at the German-British Chamber of Industry and Commerce Annual Dinner 2014
24 July 2014
2. The benefits of European integration
And it seems that Britain, too, has gained. Half of its trade is with the European Union, and studies suggest that EU membership has boosted Britain's trade in goods with other EU countries by more than 50 percent. The Center for Economic Performance at the London School of Economics has found that the immediate benefits of increased trade amount to 1 1/4 percent to 3 percent of GDP. And if the longer-term effects of strengthened competition and increased productivity are taken into account as well, EU membership is estimated to have provided a boost of up to 10.5 percent of GDP.
Link to article here
Related publications
'The Costs and Benefits of Leaving the EU', Gianmarco Ottaviano, Joao Paulo Pessoa, Thomas Sampson and John Van Reenen, Centre for Economic Performance Technical Paper, May 2014
Download here
'Brexit or Fixit? The Trade and Welfare Effects of Leaving the European Union', Gianmarco Ottaviano, Joao Paulo Pessoa, Thomas Sampson and John Van Reenen, Centre for Economic Performance Policy Paper No.16, May 2014
Download here
Related links
Gianmarco Ottaviano webpage
Joao Paulo Pessoa webpage
Thomas Sampson webpage
John Van Reenen webpage
Globalisation Programme webpage
Productivity and Innovation Programme webpage