This paper sets out a detailed quantitative analysis, based on standard econometric models, of the trade trends in the CIS countries, focusing on its low-income members; as well examining the nature of the existing CIS intra-bloc trade. Findings include that overall, progress in the trade area was slower in the low-income economies (CIS-7) than in the higher income CIS members, reflected in lower overall export level and slower export growth, a higher trade deficit, and a lower share of manufacturing exports. On balance, the CIS free trade area is a beneficial, trade-facilitating bloc, although the potential benefits of CIS trade integration remain badly underutilised.
The study provides a detailed quantitative analysis, based on standard econometric models, of the trends and the configuration of trade of the CIS countries, with an emphasis on its low income members. It also contains an analysis of the CIS countries' trade potential and its realization in a comparative perspective, as well as examination of the nature of the existing CIS intra-bloc trade.The study revealed no evidence that the CIS countries as a group underperform significantly in terms of either trade openness or export levels when compared to the countries of similar per capita GDP and population size. This means, however, that the low-income economies in the CIS (CIS-7) have been performing on average just marginally better than other low-income countries and that, overall, they have been falling behind the countries that benefit most from globalization.Overall, progress in the trade area was slower in the CIS-7 countries than in the higher income CIS members. This is reflected in: (i) lower overall export levels and slower export growth in the second half of the 1990s; (ii) higher trade deficits; (iii) lower share of manufacturing exports; (iv) incomplete re-orientation of trade flows from the CIS to global markets; and (v) lower incidence of intra-industry trade.The study found that the CIS free trade area is, on balance, a beneficial, trade-facilitating bloc. It features a free trade regime, agreements on mutual recognition of standards, and non-restrictive rules of origin. There is no evidence so far that the CIS integration is of the “South-South” type and thus may be harmful for some of its members. However, the potential benefits of CIS trade integration remain badly underutilized. The study suggests several directions for strengthening the legal and administrative framework for intra-CIS trade arrangements.
This paper sets out a detailed quantitative analysis, based on standard econometric models, of the trade trends in the CIS countries, focusing on its low-income members; as well examining the nature of the existing CIS intra-bloc trade. Findings include that overall, progress in the trade area was slower in the low-income economies (CIS-7) than in the higher income CIS members, reflected in lower overall export level and slower export growth, a higher trade deficit, and a lower share of manufacturing exports. On balance, the CIS free trade area is a beneficial, trade-facilitating bloc, although the potential benefits of CIS trade integration remain badly underutilised.
First published in 1962, The Theory of Economic Integration provides an excellent exposition of a complex and far-reaching topic. Professor Balassa has been remarkably successful in covering so much ground with such care and balance, in a treatment which is neither in any way abstruse nor unnecessarily technical. His book will interest economists in Europe by reason of its subject and treatment, but it is also a valuable and reliable textbook for students tackling integration as part of a course of International Economics and for those studying Public Finance. He distinguishes between the various forms of integration (free trade area, customs union, common market, economics union, and total integration). In addition, he applies the theoretical principles to current projects such as the European Common Market and Free Trade Area, and to Latin American integration projects. In offering this theoretical study, the author builds on the conclusions of other writers, but goes beyond this in providing a unifying framework for previous contributions and in exploring questions that in the past received little attention – in particular, the relationship between economic integration and growth (especially the interrelationship between market size and growth, and the implications of various factors for economic growth in an integrated area).
After two centuries of nation-building, the world has entered an era of region-building in search of political stability, cultural cohesion, and socio-economic development. Nations involved in the regional structures and integration schemes that are emerging in most regions of the world are deepening their ambitions, with Europe’s integration experience often used as an experimental template or theoretical model. Volume I provides a political-analytical framework for recognizing the central role of the European Union not only as a conceptual model but also a normative engine in the global proliferation of regional integration. It also gives a comprehensive treatment of the focus, motives, and objectives of non-European integration efforts. Volume II offers a unique collection of documents that give the best available overview of the legal and political evolution of region-building based on official documents and stated objectives of the relevant regional groupings across all continents. Together, these volumes are important contributions for understanding the evolution of global affairs in an age when power shifts provide new challenges and opportunities for transatlantic partners and the world community.
How do the former Soviet republics that now constitute the Commonwealth of Independent States (CIS) interact with each other and with other regional and world powers? What are the conceptual foundations, mechanisms, and main directions of each member state's foreign policy? What role do economic and political factors play? Answering these questions and more in this systematic, comprehensive survey, a team of in-country experts sheds important light on the complex regional and international interactions of the CIS states in the twenty-first century.
As the world marketplace becomes ever more globalized, much is at stake for the prosperity of hundreds of millions of people in Europe and Central Asia as the region's transition process continues through its second decade. Understanding the underlying dynamics shaping the contours and most salient impacts of international integration that have emerged and likely to emerge prospectively in the region is thus a crucial challenge for the medium term economic development agenda, not only for policymakers in the countries on themselves, but also for their trading partners, the international financial institutions, the donor community and the future of the world trading system as a whole. This book addresses this challenge.
In this global era, Central Asia must be understood in both geo-economic and geopolitical terms. The region's natural resources compel the attention of rivalrous great powers and ambitious internal factions. The local regimes are caught between the need for international collaborations to valorize these riches and the need to maintain control over them in the interest of state sovereignty. Russia and China dominate the horizon, with other global players close behind; meanwhile, neighboring countries are fractious and unstable with real potential for contagion. This pathbreaking introduction to Central Asia in contemporary international economic and political context answers the needs of both academic and professional audiences and is suitable for course adoption.
Drawing attention to the importance of the post-WTO accession agenda, this book identifies the key drivers of Ukraine's trade performance, assesses trade policies, and provides recommendations to strengthen the country's trade integration strategy. It also identifies core bottlenecks in the integration processes.
An in-depth analysis of one of the most important and complex issues of the post-Soviet era, namely the (re-)integration of this highly interconnected region. The book considers the evolution of 'holding-together' groups since the collapse of the Soviet Union in 1991, looking at intergovernmental interaction and informal economic and social ties.
