This is a preview. Log in through your library. Show Abstract The establishment of trading blocs is a way of increasing the "size of the country" and the preference for local production. We focus first on the theoretical implications on firms' strategies of the increasing move towards regional economic integration in Europe and North America. Then we examine the impact regional integration in North America has had on the foreign investment strategies of firms by their country of origin. Journal Information MANAGEMENT INTERNATIONAL REVIEW is a double-blind refereed journal that aims at the advancement and dissemination of applied research in the fields of International Management. The scope of the journal comprises International Business, Cross-cultural Management, and Comparative Management. The journal publishes research that builds or extends International Management Theory so that it can contribute to International Management Practice. Publisher Information Springer is one of the leading international scientific publishing companies, publishing over 1,200 journals and more than 3,000 new books annually, covering a wide range of subjects including biomedicine and the life sciences, clinical medicine, physics, engineering, mathematics, computer sciences, and economics. Rights & Usage This item is part of a
JSTOR Collection.
Regional integration helps countries overcome divisions that impede the flow of goods, services, capital, people and ideas. These divisions are a constraint to economic growth, especially in developing countries. The World Bank Group helps its client countries to promote regional integration through common physical and institutional infrastructure. Divisions between countries created by geography, poor infrastructure and inefficient policies are an impediment to economic growth. Regional integration allows countries to overcome these costly divisions integrating goods, services and factors’ markets, thus facilitating the flow of trade, capital, energy, people and ideas. Regional integration can be promoted through common physical and institutional infrastructure. Specifically, regional integration requires cooperation between countries in:
Cooperation in these areas has taken different institutional forms, with different levels of policy commitments and shared sovereignty, and has had different priorities in different world regions. Regional integration can lead to substantial economic gains. Regional integration allows countries to:
However, there are risks to regional integration that need to be identified and managed.
Which of the following best describes regional economic integration?Regional Economic Integration can best be defined as an agreement between groups of countries in a geographic region, to reduce and ultimately remove tariff and non-tariff barriers to the free flow of goods, services, and factors of production between each other.
Which of the following best describes economic integration?Economic integration, or regional integration, is an agreement among nations to reduce or eliminate trade barriers and agree on fiscal policies. The European Union, for example, represents a complete economic integration. Strict nationalists may oppose economic integration due to concerns over a loss of sovereignty.
What are the 3 types of regional economic integration?There are four main types of regional economic integration.. Free trade area. This is the most basic form of economic cooperation. ... . Customs union. This type provides for economic cooperation as in a free-trade zone. ... . Common market. ... . Economic union.. What is an economic argument for regional integration?Regional integration helps countries overcome divisions that impede the flow of goods, services, capital, people and ideas. These divisions are a constraint to economic growth, especially in developing countries.
|