EU: The Theory and Practice of Economic Integration: The Theory and Practice of Economic Integration

Author: Bai Yingrui
Publisher:
Publish Date: 2002-01-01
Features: The main object of international economic cooperation research is the movement patterns of factors of production flowing, combining, and allocating internationally, as well as the macroeconomic mechanisms for international economic coordination in this field. Economic coordination on a global scale often begins with regional integration. Several countries within a region form a group through treaties, establishing a set of international or supranational organizational institutions, implementing a certain degree of policy coordination and close cooperation, and even formulating and executing joint policies—this is the manifestation of economic integration. Based on different levels of cooperation, economic integration has various developmental forms such as free trade zones, customs unions, and economic and monetary unions. Integration organizations play a significant role in promoting regional economic cooperation, eliminating economic conflicts and frictions, and achieving the maximization of common interests for member economies within the region. Analyzing the conditions and processes of integration, studying its related policies, and exploring its developmental patterns are topics of great significance.