Economic geography and the political economy of regionalization: the example of western Europe

Regionalization is the outcome of a natural locational phenomeon leading to closer economic ties, whereas regionalism is the creation of preferential trading arrangements. The GATT has traditionally viewed regionalism as an offense against the rules of the established game. The European Community�...

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Bibliographic Details
Published in:The American economic review 1992-05, Vol.82 (2), p.84-87
Main Author: Lorenz, D
Format: Article
Language:English
Subjects:
Common markets
Cooperation
EC single market
Economic efficiency
Economic geography
Economic Pluralism: Asia-Pacific Economies
Economic policy
Economic regions
Economics
Economies of scale
European Union
Free trade
Geographic regions
Geography
International trade
Policy making
Political economy
Political integration
Political systems
Politics
Regionalism
Regionalization
Studies
trade agreements
Trade regionalization
Western Europe
World economy
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Summary:Regionalization is the outcome of a natural locational phenomeon leading to closer economic ties, whereas regionalism is the creation of preferential trading arrangements. The GATT has traditionally viewed regionalism as an offense against the rules of the established game. The European Community's domination of Article 24 and its bad image as a community of discrimination suggest the possible, even imminent, trilateral fragmentation of the GATT system. It is analytically necessary to add concepts concerned with economic geography and political economy to the traditional criteria of an efficient international economy. This means that current and recent developments in Europe are in the process of adding a political economy dimension to geographic space. Without neglecting the traditional reference criteria of reallocation and liberalization of trade barriers, the new criteria point toward allocation and positive integration policies in the form of cooperation and harmonization.
ISSN:0002-8282
1944-7981