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The Implications of Closer European Integration for Australia and New Zealand

Published online by Cambridge University Press:  26 March 2020

David G. Mayes
David G. Mayes*
Affiliation:
National Institute of Economic and Social Research, London, and co-ordinator of the ESRC research initiative on the Evolution of Rules for a Single European Market
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Extract

The European Community is an important trade partner for Australia and New Zealand taking 15 per cent of Australian exports and 18.5 per cent of New Zealand exports, while supplying 23.5 per cent and 18 per cent respectively of their imports. However, there has been a dramatic transformation during the 1950s, 60s and 70s away from the UK as the dominant partner (tables 1 and 2) especially in the case of New Zealand where the UK's share of exports went from 66 per cent in 1950 to 13 per cent in 1980.

Type
Articles
Information
National Institute Economic Review , Volume 134 , November 1990 , pp. 110 - 128
Copyright
Copyright © 1990 National Institute of Economic and Social Research

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Footnotes

This article is a companion piece to ‘The External Implications of Closer European Integration’ on pages 73-85 of this Review. It takes the ideas set out there and applies them to the case of Australia and New Zealand. It begins by exploring the structure of the links between the EC and the two countries and then examines how the changes have an effect. It concludes that current moves do not include the aspect of EC policy which hits Australasia hardest, namely the Common Agricultural Policy, indeed that closer integration with Eastern Europe may make the impact even worse. Consequently, the impact in total is likely to be small but individual firms, particularly those investing in Europe may be able to reap substantial benefits.

References

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Bates, W. and White, E. (1988) Industry Assistance Reform in New Zealand, Wellington.Google Scholar
Burridge, M. et al. (1990) ‘Oxford Economics Forecasting's System of Models’, Economic Modelling (forthcoming).Google Scholar
Cecchini, P. (1988) 1992: The European Challenge, Aldershot: Wildwood House.Google Scholar
Higgs, PJ (1990) ‘Australia's foreign trade strategy’, Working Paper 12, University of Melbourne School of Management.Google Scholar
Industries Assistance Commission (1988) Annual Report, Canberra.CrossRefGoogle Scholar
Stoeckel, A., Pearce, D and Banks, G (1990) Western Trade Blocs, Centre for International Economics, Canberra.Google Scholar