1st Edition

The Economics of Regional Integration

Edited By Sándor Gyula Nagy Copyright 2025
353 Pages 94 B/W Illustrations
by Routledge

353 Pages 94 B/W Illustrations
by Routledge

353 Pages 94 B/W Illustrations
by Routledge

This book develops a new methodological framework for measuring the efficiency of regional integration and the integration profile of member states. It includes rich case studies, which offer a comparative analysis of ten integrations spanning four continents - The Americas, the European Union, Africa and Asia.  The Economics of Regional Integration shows the importance of regional... Read more

Introduction

Bibliography

1. Theories of global and regional integration

1.1 The emergence and proliferation of regional integrations

1.2 Explaining regional integrations using a demand and supply model

1.3 Major theories on integrations: driving forces and stumbling blocks

1.4 The Balassa stages of economic integrations: a function-oriented approach

1.5 Potential advantages of economic integrations: a macroeconomic perspective

Bibliography

2. Measuring Regional Integration

2.1 Composite indicator contribution

2.2 Convergence analysis

2.3 Conclusions

2.4 Annexe

Bibliography

3. European Union (EU)

3.1 Historical overview of European integration

3.2 Trade and business relations

3.3 Integration of labour market

3.4 Financial and monetary aspects

3.5 External Relations

3.6 Plans for the future

3.7 Composite indicator and multivariate data analysis of the EU

3.8 Conclusions

3.9 Annexe

Bibliography

4. Western Balkan region

4.1 Historical overview of regional integration in the Balkan

4.2 Trade and business relations

4.3 The labour market and the Regional Economic Area

4.4 Financial Market and Foreign Direct Investment

4.5 External relations of Western Balkans

4.6 Future plans for integration in the Western Balkan

4.7 Composite indicator and multivariate data analysis of the Western Balkans

4.8 Conclusion

4.9 Annexe

Bibliography

5. Euroasian Economic Union (EAEU)

5.1 Historical Overview

5.2 Trade and business relations

5.3 Society and labour

5.4 Financial and monetary aspects

5.5 External relations

5.6 Plans for the future

5.7 Composite indicator and multivariate data analysis of the Eurasian Union

5.8 Conclusion

5.9 Annexe

Bibliography

6. Association of Southeast Asian Nations (ASEAN)

6.1 Historical overview

6.2 Trade and business relations

6.3 Society and labour

6.4 Financial and monetary aspects

6.5 External relations: bilateral and multilateral free trade agreements

6.6 Plans for the future

6.7 Composite indicator and multivariate data analysis of ASEAN countries

6.8 Conclusion

6.9 Annexe

Bibliography

7. North American Economic Integration (NAFTA/USMCA)

7.1 Historical overview: from CUSFTA to USMCA

7.2 Trade and business relations

7.3 Labour market mobility and society

7.4 Financial and monetary integration

7.5 External relations

7.6 The future USMCA will bring

7.7 Composite indicator and multivariate data analysis of North American countries

7.8 Conclusion

7.9 Annexe

Bibliography

8. Southern Common Market (MERCOSUR)

8.1 Historical overview of the integration process in Latin America

8.2 Trade and business relations

8.3 Social Dimension of MERCOSUR

8.4 Financial and monetary aspects

8.5 MERCOSUR and the World

8.6 Future plans and challenges

8.7 Composite indicator and multivariate data analysis of MERCOSUR

8.8 Conclusions

8.9 Annexe

Bibliography

9. Andean Community (CAN)

9.1 Historical Overview

9.2 Trade dynamics and business relations

9.3. Society and labour

9.4. Financial markets and foreign direct investment

9.5 External Relations of the Andean Community

9.6. Future plans for the Integration

9.7 Composite indicator and multivariate data analysis of CAN

9.8 Conclusions

9.9 Annexe

Bibliography

10. Pacific Alliance (PA)

10.1 Historical overview

10.2 Trade and business relations

10.3 Society and labour

10.4 Financial and monetary aspects

10.5 External relations

10.6 Future plans for deepening the integration

10.7 Composite indicator and multivariate data analysis of the Pacific Alliance

10.8 Conclusions

10.9 Annexe

Bibliography

11. Southern African Customs Union (SACU)

11.1 Historical Overview

11.2 Trade and business relations

11.3 Society and labour

11.4 Financial and monetary aspects

11.5 External Trade Relations of SACU

11.6 Plans for the future

11.7 Composite indicator and multivariate data analysis of SACU

11.8 Conclusion

11.9 Annexe

Bibliography

12. East African Community (EAC)

12.1 Historical overview

12.2 Trade and business relations

12.3 Society and labour

12.4 Financial and Monetary Aspects

12.5 External Relations of EAC

12.6 EAC’s plans for the future

12.7 Composite indicator and multivariate data analysis of EAC

12.8 Conclusion

12.9 Annexe

Bibliography

Comprehensive conclusions

Cross-regional comparison

Possible classification and comparison of types of integration

General recommendations

Limitations

Further research directions

Biography

Sándor Gyula Nagy is a full professor in the Department of World Economy at Corvinus University of Budapest and a visiting professor at several Latin American universities. His main fields of research are Latin America, the process of global, regional and European integration, and the development of the SME sector. He is the author and editor of several books, book chapters and academic papers written in Hungarian, English and Spanish.