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Regional Economic Integration

Regional Economic Integration

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Published by Bikash Sahu
Regional Economic Integration
Regional Economic Integration

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Published by: Bikash Sahu on Apr 04, 2013
Copyright:Attribution Non-commercial

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12/26/2013

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Regional EconomicIntegration
 
Dr. Bushan D. Sudhakar 
 
8-2 
Introduction
Regional economic integrationrefers toagreements between countries in ageographic region to reduce tariff andnon-tariff barriers to the free flow of goods, services, and factors of production between each other 
In theory, regional economic integrationbenefits all members
Over the last 20 years, the number of regional trade agreements has been onthe rise
 
8-3
Introduction
Question:Is regional economic integration agood thing?
While regional trade agreements are designedto promote free trade, there is some concernthat the world is moving toward a situation inwhich a number of regional trade blockscompete against each other 
Explain.
If this scenario materializes, the gains from freetrade within blocs could be offset by a decline intrade between blocs
A good thing?

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