A study of the nature and the policy implication of changes in the
global economy in relationship to the process of regional
integration, conducted using the newest techniques of economic
analysis. The principal message drawn from these analytical and
policy insights is that in a world characterised by trade
distortions and nonlinearities, regional integration may or may not
foster global integration, and may or may not advance regional or
global convergence. The key is good economic policy based on sound
economic analysis. Part one of the volume covers three
international trade policy issues: regionalism and multilateralism;
the political economy of trade policy; and trade income inequality.
Part two (chapters 7-11) focuses on three 'domestic' problems faced
by regional groups: labour migration; exchange rate arrangements;
and real convergence.
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