The slow progress of the GATT negotiations, developing countries' experience of trade liberalization in the 1980s and recent dramatic changes in Eastern Europe have all revived interest in regional integration. Papers in this volume, based on a CEPR joint conference with the World Bank, analyze why countries find regional integration more attractive now than in the past, the circumstances under which different kinds of integration are appropriate and the conditions necessary for their success. It also considers whether regionalism may serve as a stepping stone to multilateral free trade and the possible harmful long-term effects on small developing countries and free traders of the world's division into trading blocs.
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Based on a CEPR joint conference with the World Bank, papers in this volume analyze why countries find regional integration more attractive now than in the past. The text also considers whether regionalism may serve as a stepping stone to multilateral free trade.
In this book, derived from a conference organised jointly by the World Bank and CEPR in April 1992, leading international experts assess the renewed attractiveness of regional integration to individual countries, the types of integration that are suitable to various circumstances, the conditions necessary to their success, and the relationship between regionalism and multilateral free trade.
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