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D
EEP
I
NTEGRATION
 
H
OW
T
RANSATLANTIC
M
ARKETS
 
ARE
L
EADING
G
LOBALIZATION
 
E
DITED BY
 
D
ANIEL
S.
 
H
AMILTON
AND
 
J
OSEPH
P.
 
Q
UINLAN
 
P
UBLISHED
J
OINTLY BY
 
C
ENTER FOR
T
RANSATLANTIC
R
ELATIONS
 J
OHNS
H
OPKINS
U
NIVERSITY
 P
AUL
H.
 
N
ITZE
S
CHOOL OF
A
DVANCED
I
NTERNATIONAL
S
TUDIES
 
AND
 
C
ENTRE FOR
E
UROPEAN
P
OLICY
S
TUDIES
(CEPS)
 
 Funding for this project was made possible by a generous grant from the DaimlerChrysler Corporation Fund.
 
 
Hamilton, Daniel S. and Quinlan, Joseph P. (eds),
 Deep Integration: HowTransatlantic Markets are Leading Globalization,
Washington, DC andBrussels: Center for Transatlantic Relations and Centre for EuropeanPolicy Studies, 2005ISBN 9-9766434-1-3
© Center for Transatlantic Relations/Centre for European Policy Studies, 2005Center for Transatlantic Relations Centre for European Policy StudiesAmerican Consortium on EU Studies Place du Congrès 1EU Center Washington, DC 1000 BrusselsThe Paul H. Nitze School of Tel: 32 2 229 39 11Advanced International Studies Fax: 32 2 219 41 51The Johns Hopkins University Email:info@ceps.be 1717 Massachusetts Ave., NW. Suit 525 Website:http://www.ceps.be Washington, DC 20036Tel: 202-663-5880Fax: 202-663-5879Email:transatlantic@jhu.edu Website:http://transatlantic.sais-jhu.edu 
 
Table of Contents
Preface..................................................................................................
i
Executive Summary..........................................................................
iii
 
Section I. Deep Integration and the Transatlantic Economy
1. The Transatlantic Economy: Mars? Venus? No, Mercury!......................3
 Daniel S. Hamilton and Joseph P. Quinlan
2. The Transatlantic Economy: Seven Ties that Bind................................11
 Daniel Hamilton and Joseph P. Quinlan
3.
 
The Transatlantic Economy: Remaining Barriers and Possibilitiesfor Liberalization....................................................................................28
 Daniel S. Hamilton and Joseph P. Quinlan
Section II. Deep Integration and the Transatlantic Economy:Sectoral Analyses
4. Services in the Transatlantic Economy..................................................39
 Daniel S. Hamilton and Joseph P. Quinlan
5. Beyond Open Skies:The Economic Impact of a U.S.-EU Open Aviation Area.....................50
 Dorothy Robyn, James Reitzes and Boaz Moselle
6. Commercial Aerospace and the Transatlantic Economy........................74
 Richard Aboulafia
7. The Transatlantic Outlook for the Biopharmaceutical Sector................91
Françoise Simon
8. The Transatlantic Automotive Sector...................................................109
Garel Rhys
9. A Transatlantic Financial Market?.......................................................122
Karel Lannoo
10. Transatlantic Telecommunications: Markets, Policies, Issues.............132
 Michael Tyler and Matthew Dixon
11. Telecom Services: A Transatlantic Perspective...................................156
 Andrea Renda
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