Regional Integration and Economic Development

  • Percy S. Mistry
Part of the The New Regionalism book series (NERE)

Abstract

Available evidence suggests that free-trade areas, customs unions, and partial preferential trade areas have, prior to 1990, generated only limited tangible benefits, inevitably eroding political support for their continuation. Poor sequencing, and ill-chosen instruments and structures have in some cases contributed to failure. Where Regional Integration Arrangements (RIAs) have succeeded in generating visible gains, their distribution has often been perceived as inequitable by the less-developed members of the group. For these and other reasons, RIAs in developing countries have lacked credibility. Of course, factors such as the oil, debt and commodity crises, with their international repercussions, contributed to the failure of RIAs in the developing world. But policy responses to the crises which such shocks created have aggravated extant economic maladjustments and distortions and rendered earlier RIAs in continents such as Africa and LAC even less effective and, indeed, inappropriate.

Keywords

Europe Income Coherence Assure Expense 

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  1. de la Torre, A. and M. R. Kelly (1992) ‘Regional Trade Arrangements’, IMF Occasional Paper No. 93, Washington (March).Google Scholar
  2. de Melo, J., C. Montenegro and A. Panagariya (1992) Regional Intergration Old and New, The World Bank, Washington (mimeo).Google Scholar
  3. de Melo, J. and A. Panagariya (eds) (1993) New Dimensions in Regional Integration (Cambridge: Cambridge University Press: published for CEPR, London).Google Scholar
  4. Hettne, B. and A. Inotai (1994) The New Regionalism: implications for Global Development and International Security (Helsinki: UNU/WIDER).Google Scholar
  5. Mistry, P. S. (1996) Regional Integration Arrangements in Economic Development: Panacea or Pitfall? (The Hague: Fondad).Google Scholar
  6. Viner, Jacob (1950) The Customs Union Issue (New York: Carnegie Press; London: Steven & Sons).Google Scholar

Copyright information

© The United Nations University/World Institute for Development Economics Research, Katajanokanlaituri 6B, 00160 Helsinki, Finland 2000

Authors and Affiliations

  • Percy S. Mistry

There are no affiliations available

Personalised recommendations