Economic integration

Today, the economy evidently traces two trends: the strengthening of the world economy, its planned globalization and economic convergence of countries at the regional level.

Economic integration is the unification of countries at the political and economic level through the creation and development of international interrelations and the division of labor between economies of individual countries. This interaction begins with the cooperation of the enterprises of the neighboring countries (for example, by creating branches abroad). At the macro level, integration takes place in the form of creating economic associations of different states by coordinating national policies.

Economic integration of micro and macro levels requires state regulation, and in some cases - and supranational. The purpose of such regulation is to ensure the free movement of goods, money capitals and labor (labor) between different countries; Joint economic, financial, monetary, social, scientific, technical, defensive and foreign policy. As a result, integrated economic complexes with a single infrastructure, a currency system, general financial funds and bodies of interstate administration are created.

Economic integration is developing under the influence of a combination of many factors. Among them the most significant are the following: globalization of farms, development of scientific and technical progress, division of labor at the international level, openness of national economies. All these factors are interrelated and interdependent.

The fastest pace of economic integration is at the regional level. Therefore, today the main trend of globalization of farms is the process of the formation of integration zones and megablocks around certain countries. Examples are the United States on the territory of the American continent, Japan in alliance with the United States - in the Pacific region, the most developed countries of the West.

Economic integration makes it necessary for national economies to increase their openness. This implies their deeper involvement in the system of international relations, easing of restrictions on the movement of goods, labor and capital between countries, the convertibility of their currencies.

What forms of economic integration exist? The simplest form is the free trade zone , in which the restrictions between participants (countries) are lifted. In the relations with third countries, an independent policy is allowed. With this form started the EU, today at this stage of development is the Latin American region.

The next form is the customs union, which along with the free trade zone requires the establishment of a single tariff for trade and a common foreign policy towards non-member countries. Often, the customs union is supplemented by payment, which facilitates the convertibility of currencies and the circulation of a single monetary unit.

A more complex form is a common market that provides removal of obstacles to the movement of production factors and alignment of economic policies with the goal of leveling the indicators of countries. With this form of integration, common (supranational) governance bodies are created and a single economic, information and legal space is formed.

At a higher level of development, economic (single economic policy) and foreign exchange (joint circulation of national currencies, fixed rates, then the creation of a single currency and a bank) are formed. These forms are characteristic only for the countries of Western Europe.

The last form is full economic integration, in which the legislative base is unified, uniform standards, labor legislation, etc. are established.