The Accumulative Model of International Economic Integration

Ð’. Ð . Kheyfets ()

Outlines of global transformations: politics, economics, law, 2024, vol. 16, issue 1

Abstract: The paper substantiates the expediency of introducing a new concept into scientific and practical circulation – cumulative economic integration. Based on the analysis of works on the theory of international economic integration, it is shown that the classical methodology, based primarily on the principles of the theory of B. Balassa, is only partially suitable for studying various forms of integration that are developing in the global economy at the present stage. In this regard, it is expedient to use the accumulative integration model, which takes into account the entire range of ties leading to the economic convergence of a group of interested states. A feature of accumulative integration is the readiness of the participants for multilateral or bilateral cooperation to achieve specific goals and the provision of privileges or special rights to each other within the framework of such agreements. The accumulative integration strategy expands the field for the development of mutual cooperation in terms of in volving countries with different levels of economic development, as well as areas of interaction. The accumulative integration can have various models, and accumulative integration itself in the future can either move to higher stages of international integration, or remain a compromise form of developing stable mutual ties for a long time to come. The conclusions drawn are supported by the analysis of concrete examples of the development of accumulative integration within the framework of the Belt and Road Initiative, APEC and BRICS. Some interstate associations that can use the strategy of accumulative integration are named.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ccs:journl:y:2024:id:1375

DOI: 10.31249/kgt/2023.01.02

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