Thailand and New Regionalism

Abstract

The world economy has been increasingly integrated through trade, investment and financial markets over the last three decades. The degree of synchronization of economic activities in the world has become more pronounced. Consequently, developing economies have been adversely affected by fluctuations of the world business cycle. Nevertheless, there is no doubt that high economic growth in developing countries can be attributed to outward-oriented policy which relies on export growth as a driving force. Pro-trade and pro-investment policy has led to continued expansion of industries and increased inflows of foreign direct investment in developing countries. High growth also enables developing countries to successfully reduce their poverty levels.KeywordsForeign Direct InvestmentRegional IntegrationFree Trade AgreementTariff RateUruguay RoundThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.