Megaregions in Globalizing Economy

493
DOI: 10.20542/0131-2227-2016-60-8-26-33

L. Zevin, Institute of Economics, Russian Academy of Sciences, 32, Nakhimovskii Prosp., Moscow, 117218, Russian Federation (lzzevin@pochta.ru

Abstract. The bipolar nature of modern world – globalization and fragmentation – speeds up regional movements and economic integration. These processes in peripheral regions are expected to grow more vigorously than in the developed regions. Fragmentation redoubled the number of national economies and reduced their average size. To withstand the impact of globalization peripheral countries apply to their regional potential: they increase the connectivity of integration unions and regional infrastructure. The developed countries with their oversupplied home markets concentrate on outward expansion. Interation of these heterogeneous foreign trade strategies gave birth to new links in the system of international economic relations – mega-regionalism and interregional constructions including transoceanic integration unions like TTP. The world economy is in store for a new division line because of the coexistence and competition between mega-regional and transoceanic integration unions. One of the possible repercussions of these events may be the emergence of geopolitical and geoeconomic triad – NATO, TTIP, TTP. Under such international situation peripheral economies are able to build regional integration unions and function for many years but mostly without any noticeable progress. Low internal connectivity hampers their movement towards the integration threshold. That’s why integration process should be analyzed by dividing it into two stages – initial (start) period (until reaching integration threshold and nature stage (integration build mainly on its own recourses and base). The possibility of measuring quantitatively the approach to integration threshold allows to determine the division line between two stages. Duration of the first stage is 10–12 and more years. The creation of a successful project of regional economic integration takes at least 20–30. Proposals are made how to measure the progress of regional integration projects.

Keywords: globalization, fragmentation, regional economic integration, mega-regions, integration threshold 


REFERENCES

1. World Economic Outlook Database. 2013. Oct. and Jan. Available at: http://www.imf.org (accessed 01.10.2015).

2. WTO Statistics. Available at: www.wto.org/english/res_e/world_region_export_12_epd (accessed 01.10.2015).

3. Ahearn R.J. Rising Economic Powers: Trends and Issues for Congress. Available at: www.fas.org/sgp/crs/musc/R41969.pdf (accessed 01.10.2015).

4. Russia and New States of Eurasia. 2013 II (XIX), pp. 5-16.

5. Gering J. Connectivity: a Key Factor in International Development. Available at: http://peoplebu.edu//gering/documents/Connectivity.pdf (accessed 01.10.2015).

6. Dawkins C.J. Regional Development Theory: Conceptual Foundations. Available at: http://jpl.sagepub.com/content/18/2/131.abstract (accessed 01.10.2015).

7. Collins B. Does Regionalism Challenge Globalization or Build upon It? Available at: http://www.eir.info/?=4764 (accessed 01.10.2015).

8. Pestsov S.K. Mezhdunarodnyi regionalizm: sravnitel'nyi analiz teorii i praktiki regional'nogo sotrudnichestva i integratsii. Diss. dokt. polit. nauk. [International regionalism: comparative analysis of theory and practice of regional cooperation and integration. Dr. Diss. (Polit. Sci.)] Sankt-Peterburg, 2006. 422 p.

9. Michael N. Trade Preferential Agreements in Latin America: An-Ante Assessment. Policy Research Working Paper N 1538. Washington, World Bank, March 1996. 55 p.

10. Martijn J.K., Tsangarides C. Trade Reform in the CEMAK: Developments and Opportunities. IMF Working Paper N 07/137. Washington, IMF, 2007. 23 p.

11. Tussie D. Latin America: Contracting Motivations for Regional Projects. Review of International Studies, vol. 35, Supplement 51, February 2009, pp. 169-188.

12. Kheifets B.A., Libman A.M. Korporativnaya integratsiya: Alternativa dlya postsovetskogo prostranstva [Corporative Integration: Alternative for Post-Soviet Space]. Moscow, Izdatel’stvo LKI, 2008. 160 p.


Registered in System SCIENCE INDEX

For citation:
Zevin L. Megaregions in Globalizing Economy. World Eonomy and International Relations, 2016, vol. 60, no. 8, pp. 26-33. https://doi.org/10.20542/0131-2227-2016-60-8-26-33



Comments (0)

No comments

Add comment







Indexed

 

 

 

 

Dear authors! Please note that in the VAK List of peer-reviewed scientific journals, in which the main scientific results of dissertations for the degree of candidate and doctor of sciences should be published for the “MEMO Journal” the following specialties are recorded:
economic sciences:
5.2.5. World Economy.
5.2.1. Economic Theory
5.2.3. Regional and Branch Economics
political sciences:
5.5.4. International Relations
5.5.1. History and Theory of Politics
5.5.2. Political Institutions, Processes, Technologies

 

Current Issue
2024, vol. 68, No. 7
Topical Themes of the Issue:
  • The Supporting Structure of Global Security
  • Institutional Features of the Fourth Energy Transition
  • The Evolution of Modern German Christian Democracy
  • The Monarchies of the Persian Gulf and Central Asia
Submit an Article
INVITATION FOR PUBLICATION
The Editorial Board invites authors to write analytical articles on the following topics:
  • changes in the processes of globalization in modern conditions
  • formation of the new world order
  • shifts in civilization at the stage of transition to a digital society

The editors are also interested in publishing synthesis articles / scientific reviews revealing the main trends in the development of certain regions of the world - Latin America, Africa, South Asia, etc.