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#REGIONAL ECONOMIC INTEGRATION BLOCS FREE#
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(2007) ‘Economic Integration, Trade Diversion and Welfare Change’. Bulletin of Latin American Research, 20(3).Ĭheong, J and Wong, K. (2001) ‘Regional Integration in Latin America and the Caribbean’. (2004) ‘Trade Diversion and Declining Tariffs: Evidence from Mercosur’.

Washington: Columbia University AEI press Discussion papers no 9596-04.īohara, A. (1996) ‘Preferential Trading Areas and Multilateralism: Stranger Friends or Foes?’. The Economic Journal online publication September, doi: 10.2307/2229850.īhagwati, J. (1971) ‘Trade-diverting customs unions and welfare-improvement: A clarification. National Bureau of Economic Research online publication October, doi: 10.3386/w5283.īhagwati, J. (1995) ‘Is regionalism simply a diversion? Evidence from the evolution of the EC and EFTA’. Economic Commission for Latin American and the Caribbean Revista CEPAL 28(1). (2008) ‘Integration in Latin American- Trends and Challenges’. (1993) ‘Integración y desviación de comercio’. European Economic and Political Issues III. (2001) ‘The common agricultural policy, past, present and future’. (2003) ‘Gravity with Gravitas: A solution to the Border Puzzle’. Studies indicate that regional economic integration significantly contributes to the relatively high growth rates in the less-developed countries.Anderson, J. Due to a reduction or removal of tariffs, cooperation results in cheaper prices for consumers in the bloc countries. What are the reasons for 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. People also ask, what is the regional economic integration? Subsequently, question is, what are the different types of economic integration? The degree of economic integration can be categorized into seven stages: This type provides for economic cooperation as in a free-trade zone. This is the most basic form of economic cooperation. There are four main types of regional economic integration. Moreover, what are the levels of regional integration? Tariffs (a tax imposed on imported goods) between member countries are significantly reduced, some abolished altogether.
