Suggested topics for lectures

by Assoc. Prof. Dr. Paskal ZHELEV

Regional Integration in the World Economy – Recent Developments

(09.10.2019)

Regionalism has become a key feature of trade policies of all WTO members. In the past 2-3 decades the world economy has witnessed an exponential growth of regional trade agreements. This has brought forth an intense debate about the threat of undermining the multilateral trading system by rising regionalism and turning it into a tool of collective protectionism. We begin by examining the nature, motives, factors, types of regional economic integration. The economic effects of integration are studied through the concepts of trade creation and trade diversion. We then analyze the characteristics of the new regionalism and its interaction with the multilateralism. Finally, we consider the experience of a specific regional economic bloc – the Eurasian Economic Union and try to relate it to the theoretical approaches covered earlier in the lecture.