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Regional integration among developing countries, revisited

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  • Inotai, Andras

Abstract

Economic integration among developing countries became an important policy issue in the 1960s and early 1970s. But although intraregional trade increased in some trading groups, it remained a modest share of total trade. However, dramatic changes in the world economy have affected the environment for regional integration and cooperation. The formation of new, powerful economic and trading blocs, such as the single market of the European Community, the US-Canada free trade area, initiatives in the Pacific basin, and the transition to market economies in Central and perhaps Eastern Europe, seems to have fostered a trend toward new regionalism in the world economy. The virtual failure of the GATT negotiations may speed this up. To minimize economic losses and avoid marginalization, regional groups of developing countries must increasingly work out common positions and join one of the influential groups. Both factors require the gradual yet rapid dismantling of barriers to the free flow of production factors within regional groups. Obviously, intraregional trade cannot become an alternative to trade flows that are basically oriented to the world market. But in the 1990s, intraregional trade and economic relations are likely to grow parallel to, or even at a higher rate than, extraregional contacts.

Suggested Citation

  • Inotai, Andras, 1991. "Regional integration among developing countries, revisited," Policy Research Working Paper Series 643, The World Bank.
  • Handle: RePEc:wbk:wbrwps:643
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    References listed on IDEAS

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    1. Amelung, Torsten, 1990. "Explaining regionalization of trade in Asia Pacific: A transaction cost approach," Kiel Working Papers 423, Kiel Institute for the World Economy (IfW Kiel).
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    Cited by:

    1. Eduard Marinov, 2015. "Economic Determinants of Regional Integration in Developing Counties," International Journal of Business and Management, International Institute of Social and Economic Sciences, vol. 3(3), pages 22-39, August.
    2. MARINOV, Eduard, 2014. "Market And Trade Related Determinants Of Economic Integration Among Developing Countries," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 1(1), pages 180-186.
    3. IORDACHI, Victoria & ROŞCA, Marcelina, 2015. "Implementation Of Financial Derivatives On The Capital Market Of Republic Of Moldova: Challenges And Opportunities," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 2(1), pages 142-151.
    4. Eduard V. MARINOV, 2016. "Current Trends in the Economic Development of the Participating in the Tripartite Free Trade Area Regional Economic Communities," Journal of Economics and Political Economy, KSP Journals, vol. 3(1), pages 81-104, March.
    5. Andriamananjara, Soamiely & Schiff, Maurice, 1998. "Regional groupings among microstates," Policy Research Working Paper Series 1922, The World Bank.
    6. Safadi, Raed & Yeats, Alexander, 1993. "The North American Free Trade Agreement (NAFTA) : its effect on South Asia," Policy Research Working Paper Series 1119, The World Bank.
    7. Marinov, Eduard, 2014. "Регионална Икономическа Интеграция В Африка (Дисертация) [Regional Economic Integration in Africa (Ph.D. Thesis, full text)]," MPRA Paper 60591, University Library of Munich, Germany.
    8. Marinov, Eduard, 2014. "Economic Integration Theories and the Developing Countries," MPRA Paper 63310, University Library of Munich, Germany.
    9. Marinov, Eduard, 2014. "Политически Детерминанти На Икономическата Интеграция [Political Determinants of Economic Integration]," MPRA Paper 74972, University Library of Munich, Germany.
    10. Eduard Marinov, 2018. "Post-crisis development of Bulgarian international trade relations," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 63-82.
    11. MARINOV, Eduard, 2018. "Terms Of Trade In Bulgarian Post-Crisis International Trade," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 6(1), pages 226-234, October.
    12. Eduard Marinov, 2014. "International Trade Geographic Structure of African Regional Economic Communities," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 69-98.
    13. Marinov, Eduard, 2015. "Integration Potential of African Regional Economic Communities," MPRA Paper 113699, University Library of Munich, Germany.
    14. repec:aer:wpaper:84 is not listed on IDEAS
    15. Marinov, Eduard, 2019. "Африканската Континентална Зона За Свободна Търговия: Защо Африка Се Връща Към Мултилатерализма [The African Continental Free Trade Area]," MPRA Paper 110919, University Library of Munich, Germany.
    16. Rich, Patricia Gray, 1994. "An examination of the Chile-Mexico agreement: a viable form of integration?," Series Históricas 9602, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    17. Marinov, Eduard, 2019. "The African Continental Free Trade Area: Why is Africa turning to multilateralism?," MPRA Paper 110916, University Library of Munich, Germany.
    18. Jonathan E. Ogbuabor & Onyinye I. Anthony-Orji & Oliver E. Ogbonna & Anthony Orji, 2019. "Regional integration and growth: New empirical evidence from WAEMU," Progress in Development Studies, , vol. 19(2), pages 123-143, April.

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