Chapter 4 is devoted to common markets. Factor (labour and capital) mobility lies at the heart of the analysis. Labour migration, including a number of controversies surrounding this issue – particularly which country (sending or receiving) benefits more from integration (or how much) – is outlined in the context of Europe. Prospects for increased foreign direct investment activity and operations of transnational corporations are analysed with respect to integration arrangements of both developed and developing countries. Discussion is supported by statistical data on foreign direct investment in the EU.
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