Abstract
Our paper focuses on the cross-border cooperation in regional development. Specifically, it examines the effect of open borders and international cooperation for the sustainable development of regions. We show that barriers hampering the free movement of capital and labour often lead to worsening the economic and social conditions of border regions and have negative effects on the regional development. Moreover, we provide evidence from recent history and examples of the European Union integration to stress the importance of opening borders and installing the well-functioning cross-border cooperation. In addition, we discuss the effects of the European single currency (as expressed in a classical model of the Open Currency Area) to demonstrate the effects of cross-border trade. Our results can be used by the economic experts and policy-makers who are preoccupied with removing trade barriers and economic sanctions and enhancing the economic prosperity.
Highlights
The idea of cross-border cooperation is to cover a region and solve common problems along the region's borders
We show that barriers hampering the free movement of capital and labour often lead to worsening the economic and social conditions of border regions and have negative effects on the regional development
Role of open borders and cross-border cooperation are very important for the regional economic growth
Summary
The idea of cross-border cooperation is to cover a region and solve common problems along the region's borders. The observation of cross-border cooperation in the EU and the United States provides important insights into the impact of such cooperation on regional development, which depends heavily on the degree of cooperation between the two countries in terms of economic growth and development [12, 13]. It is estimated that removing legal and administrative barriers would allow the European border region to be 8.7% richer than it is at present [16,17,18] This is important when discussing the impact of cross-border cooperation on the economic development of the Euro region. Tourism development in the border region was state-centred, characterized by hierarchically organized centralized state institutions, including regional as well as the local administrative districts
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