Regional Trade and Economic Development

Kato Kimbugwe, Nicholas Perdikis, May Yeung and William Kerr
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Kato Kimbugwe: Aberystwyth University
Nicholas Perdikis: Aberystwyth University

Chapter 2 in Economic Development Through Regional Trade, 2012, pp 11-31 from Palgrave Macmillan

Abstract: Abstract Regional integration has many synonyms including economic integration and economic cooperation, but is generally understood to be the coming together of countries, usually, but paradoxically, not always in the same region,1 with the objective of reducing barriers to trade between members and in the process, spurring development and enhancing welfare in the region. Pelkmans (1984, p. 2) defines economic integration as ‘both a state of affairs and a process’. As a state of affairs, it refers to a fusion of separate national economies through various types of integration. As a process, it signifies the gradual elimination of economic barriers between countries. Hine (1994) defines it as attempts by governments to link together the economies of two or more countries through the removal of economic barriers under specific integration schemes. (p. 235)

Keywords: European Union; Regional Integration; Regional Trade; Custom Union; Trade Diversion (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1057/9780230369924_2

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