Levels Of Economic Integration Research Articles

Особенности стратегий устойчивого развития интеграционных объединений и рекомендации для ЕАЭС

The article conducts an analysis of sustainable development strategies at various levels of economic integra-tion, exemplified by the experiences of member countries of the European Union (EU), African Union, Com-mon Market of South American Countries (MERCOSUR), and the Association of Southeast Asian Nations (ASEAN), with the objective of identifying distinctive features and successful practices, as well as offering rec-ommendations for incorporating international experience into the strategic documents of the Eurasian Eco-nomic Union (EAEU) in the field of sustainable development. To achieve this goal, a comparative analysis of regulatory documents and sustainable development strategies of several integration associations was con-ducted to identify unique characteristics. Based on the synthesis of the results obtained, recommendations for the EAEU were formulated. The proposed systemic approach to constructing the EAEU’s sustainable develop-ment strategy differs from traditional approaches, which may focus on blindly following international standards such as the United Nations Sustainable Development Goals (SDGs). Thus, the conclusions indicate the neces-sity of adapting these standards in accordance with the national interests of the member countries and the ob-jectives of regional integration.

Promoting a geography of opportunity in Accra, Ghana: Applying lessons from mixed-income development successes and shortcomings

ABSTRACT Urban poverty in both the developed and developing world is often spatially organized with deprivation highly concentrated in segregated areas of cities. With the rapid urbanization and lack of effective urban planning in several countries in sub-Saharan Africa, segregation, economic deprivation and social exclusion are particularly severe challenges. In the United States, almost 30 years of poverty deconcentration policy has had mixed results and offers cautions to other countries looking to confront urban segregation. Accra, the capital city of Ghana, offers an intriguing example of a city with substantial clusters of poverty and slum areas, but also some neighborhoods with high existing levels of economic integration. Drawing on the theoretical and empirical context of poverty deconcentration efforts in the United States, this paper presents a conceptual framework with two alternative pathways for urban development: an inclusionary pathway and an exclusionary pathway. We use this framework to review and critique Ghana’s existing urban policy and offer implications for inclusionary urban policy in Accra and other similar cities in developing countries.

Financial Stability Implications of Stress Testing for Risk Taking and Credit Growth

This paper examined the literature on financial stability implication of stress testing for risk-taking and credit growth in banks.
 Macro prudential considered one of the most stress testing tools by Applying countercyclical Macro prudential tools to build up capital buffers in good times that can be run down during bad times. But to improve timing, monitories authorities may need to develop a comprehensive framework to monitor Macro prudential conditions and establish appropriate warning and trigger thresholds. Regarding scope, they examine the entire financial system. This entity contributes to fire sales whose default has follow-on effects, or which can exacerbate a credit crunch that is included. Liability Considerations contain a Scale of wholesale funding that is run-prone is paramount. Capital adequacy depends on the health of the overall financial system. For asset Considerations, the test indicates whether the financial system is vulnerable to deleveraging that might amplify adverse shocks, at the end authorities' development guidance about whether to close a bank and when to sell its assets to maximize taxpayer recovery. We have concluded that the financial stability implications of stress tests for risk-taking and credit growth among banks are the following: A reduction in credit is a feature on stress tests. Post-crisis reforms traded the expectation of lower credit growth for reducing the probability that the larger banks would fail. This has a high negative impact on the economy. Higher capital requirements for the larger banks have prompted a reduction in the supply of credit, especially to riskier borrowers. Smaller banks have increased their share of local market-wide lending, and larger businesses have seen quite generous credit availability in bond and leveraged loan markets. Consider the structure of the financial system and its complexity long the levels of economic integration and openness.

Outward FDI location and economic diplomacy: the case of Greece

This study investigates the effects of national and European Union economic diplomacy action on the stock of Greece's Foreign Direct Investment (FDI) held by 22 destination countries. The results indicate the effect of economic diplomacy instruments on the location of Greece's outward FDI vis-a-vis the respective effect of other determinants. The results are tested for differences across countries with different levels of income and for different levels of economic integration. The findings contribute to the debate on the role of economic diplomacy in international business and on the significance of developing a European economic diplomacy strategy.

SOME THEORETICAL ASPECTS OF ECONOMIC INTEGRATION

One of the basic links of the process of globalization are economic integrations. The aim of this paper is to systematize theoretical achievements and to review the forms, effects and conditions for connecting countries motivated by economic benefits. In addition to the theoretical review of the conceptual definition of economic integration, the focus is on the levels of economic integration from the free-trade zone to the monetary and fiscal union, explaining the specificity of each of the mentioned levels. Considering that the connection between countries always raises the question of the benefits and costs of connection, the special emphasis in this paper is placed on the potential effects for free trade. Finally, the greatest contribution of this paper is the systematization and theoretical review of the theory of optimal currency area and monetary integration, which is especially significant for the European soil, taking into account the already established European Monetary Union.

Economic Integration Effects on Trade Margins : Sectoral Evidence from Latin America

The present paper aims to determine the effects of different levels of economic integration on the intensive and the extensive margins of trade. Specifically, the analysis focuses on the case of Latin America. It is of great importance for development policies in the region since the extensive margin can be defined as those exports that provide new market entrants, while the intensive margin is due to continued growth in sales of old exporters to the same destinations. Therefore, obtained results have important policy implications related to diversification strategies. The long-term period considered will allow us to determine whether different effects on trade margins might arise in the following two sub-periods: 1962~1989 and from 1990 onwards, i.e. before and after the spread of regional integration agreements and the deepening of the liberalization process

The Bigger They are the Harder They Fall: The Link Between Economic Sanctions and Integration

Economic sanctions, or deliberate financial and trade restrictions placed on a target state, remain an important yet controversial foreign policy tool used to achieve a set of pre-specified political or economic objectives. Conventional wisdom holds that the effectiveness of economic sanctions is contingent upon the degree of economic pressure imposed on the target-nation state. This claim, I argue, relies on the assumption that a target nation-state is integrated in the global economy. Nation-states with higher levels of economic integration are engaged in and are dependent upon higher levels of international trade. As such these states would have greater difficulty in economic adjustment if their trade was hindered. Expecting this difficult economic adjustment, target nation-states are more likely to capitulate, resulting in a successful economic sanction. Using an OLS regression this study finds that economic sanctions are more effective in target nations with higher levels of economic integration.

Sourcing Implications of the North American Free Trade Agreement

This research examines the effects of the North American Free Trade Agreement (NAFTA) from the perspective of a hypothetical firm operating in the household appliance industry. The location of the lowest cost source of components and the effects on the total systems cost to manufacture and distribute finished products are examined under different levels of economic integration. The research utilizes a network simulation to model optimum supplier sources, purchased item flows, and associated costs to meet total North American demand. The study's results, while highly dependent on the data utilized, indicate that the NAFTA could result in significant changes in supply location and total systems cost for firms with integrated North American operations.

A Survey of the Political Economy of Customs Unions

Nations customarily engage in international trade and just as regularly adopt policies which regulate that trade to meet national objectives. These policies typically involve import (or export) tariffs or their equivalents. Economic integration refers to the process by which nations reduce such trade barriers and reorganize multiple economies to meet national and supranational objectives. The levels of economic integration are usually identified as (1) the free trade area; (2) the customs union; (3) the common market; (4) the economic union; and (5) total economic integration. The free trade area involves the abolition of tariffs and equivalent trade restrictions between members of the area, with each member selecting its own trade policy for nonmembers. The customs union is a free trade area with a common trade policy with respect to nonmembers. The common market has all the elements of the customs union, and additionally, permits factors to move freely among member nations. An economic union is a common market in which members coordinate national economic policies. Finally, total economic integration is an economic union for which a supranational agency determines monetary, fiscal, trade, and social policies for all member nations. Each integration level involves some elements of freer trade and some of additional protection for producers, since the protected market available to these producers is enlarged by the creation of a protected position in the markets of other countries partner to the union in addition to their protected position in their domestic market.' The of customs unions [is] . . . [a special] branch of tariff theory that deals with the effects of geographically discriminatory changes in trade restrictions2. A useful starting point in discussing customs unions is a survey of the fundamentals of international trade theory and of the costs, benefits, and motives for protection by tariff strategy.