A new way of understanding economic unions
Publisher: Universidade da Coruña ; Universidade de Vigo ; Universidad de Santiago de Compostela
Year of publication: 1995
Pages: 93-98
Congress: Encontro Galego de Xóvenes Investigadores de Análise Económica (1. 1995. Santiago de Compostela)
Type: Conference paper
Abstract
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.