A new way of understanding economic unions

• Autores: José Méndez Naya
• Localización: Libro de actas do I Encontro de Xóvenes Investigadores Galegos de Análise Económica : Santiago de Compostela, 26, 27 e 28 de xullo de 1995, 1995, págs. 93-98
• Idioma: inglés
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• Resumen

  • By eliminating resource allocation as a economic rationale for the existence of economic unions, only one way of understanding why economic unions exist remains open; by considering them as an alternative commercial policy, that is an alternative to traditional commercial policy. In so doing the formation of economic unions should be considered as alternative trade policy and so strategic integration might emerge.

    This paper proves that the formation of economic unions can be justified without having to consider them as strategic commercial policies. Regionalism and multilateralism therefore, can be considered as complementary processes.