The Economics of International Integration, Second Edition

The Economics of International Integration, Second Edition

Miroslav N. Jovanović

The dissipating multilateral trading system and splintering in a number of trading blocs and arrangements has been one of the most important issues in international economics, particularly after the establishment of the World Trade Organisation in 1995 and especially during the Doha Round (2001-13). This book takes on those and new issues such as integration through spatially fragmented production and operation of supply chains. It also reviews various existing and emerging integration arrangements and their achievements. International economic integration deals are here to stay and evolve with variable successes in spite of advantages offered by the multilateral trading system.

Chapter 8: Measuring the effects of international economic integration

Miroslav N. Jovanović

Subjects: economics and finance, international economics, regional economics, urban and regional studies, regional economics

Abstract

Chapter 8 deals with the measurement of the effects of international economic integration. There are serious methodological limits to the quantification of these effects, as well as interpretations of the results of studies. Most importantly, it is not yet possible to create a reliable counterfactual situation that would simulate scenarios occurring with and without integration. It is stated that the end result of estimations is an amalgam of various effects, some of which have nothing to do with integration. Hence the theory of international economic integration is in certain dimensions more intuitive than conclusive.

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