The contributors expertly provide a comparative perspective on regional integration in different regions of the world while at the same time analysing the various facets of integration, relating to trade, FDI, finance and monetary policies. They provide a comprehensive treatment of the subject and offer new perspectives on the potential developmental effects of regional integration and the implications of regional integration for global economic governance. Whilst highlighting and illustrating the potential benefits deriving from regional economic integration, the book also stresses the problems and challenges regional integration processes are usually confronted with.
This informative book will be of interest to academic researchers, students, policymakers and professional economists working on matters of regional economic cooperation and integration, international economics and development economics. While applying state of the art economic tools, it is written in a clear and accessible style, intended for a wide readership among professionals and general readers interested in these fields.
Edited by Ulrich Volz, Senior Lecturer in Economics, SOAS, University of London, UK and Senior Research Fellow, German Development Institute / Deutsches Institut fur Entwicklungspolitik (DIE)
Contents: Foreword Jose Antonio Ocampo Introduction Ulrich Volz PART I: INTEGRATION EXPERIENCES IN DIFFERENT REGIONS 1. SAARC: Changing Realities, Opportunities and Challenges Rajiv Kumar 2. East Asian Economic Integration and its Impact on the Chinese Economy Yanghua Huang and Yongsheng Zhang 3. Regional Integration in Southern Africa: Key Issues and Challenges Trudi Hartzenberg and Davie Malungisa 4. Integration in Latin America - Trends and Challenges Renato Baumann PART II: REGIONAL INTEGRATION AND THE MULTILATERAL TRADING SYSTEM 5. The Future of the Multilateral Trading System in a Multi-polar World Jeffrey J. Schott 6. Rabbits Caught in the Headlights? Africa and the `Multilateralizing Regionalism' Paradigm Peter Draper and Mzukisi Qobo PART III: REGIONAL TRADE AND FOREIGN DIRECT INVESTMENT 7. Regional Trade-FDI-Poverty Alleviation Linkages - Some Analytical and Empirical Explorations Ram Upendra Das 8. Regional Integration and FDI in Emerging Markets Julia Kubny, Florian Moelders and Peter Nunnenkamp PART IV: REGIONAL FINANCIAL INTEGRATION 9. Developing Regional Financial Markets - the Case of East Asia Michael Pomerleano 10. Regional Financing Arrangements and the IMF Julie McKay, Ulrich Volz and Regine Woelfinger PART V: TOPICS IN MONETARY INTEGRATION 11. Monetary Integration and Trade: What do we Know? Volker Nitsch 12. When You Got Nothing, You Got Nothing to Lose - Regional Monetary Integration and Policy Independence J. James Reade and Ulrich Volz 13. South-South Regional Monetary Cooperation: Potential Gains for Developing Countries and Emerging Markets Laurissa Muhlich 14. Currency Baskets for East Asia Eiji Ogawa Index