Integrarea economica si economia europeana - Ciumac

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The peculiarities of the International Economic Integration Integration trends in America Integration trends in Asia and Africa Integration in Europe Lecture 1. The peculiarities of the International Economic Integration  Economic integration is a term used to describe how different aspects between economies are integrated. The basics of this theory were written by the Hungarian economist Bela Belassa in the 1960s. As economic integration increases, the barriers of trade between markets diminishes.  Economist Fritz Machlup traces the origin of the term 'economic integration' to a group of five economists writing in the 1940s, including Wilhelm Ropke, Ludwig von Mises and Friedrich von Hayek. Economic integration was the basis of US foreign policy after World War II. When Marshall Plan was elaborated, the term economic integration was used frequently. The word “integrate” comes from the Latin “integro, integration” meaning putting together, unifying parts into a single one. The term ”political integration” was used earlier than the economic one, in the 1920, having as synonym the “economic solidarity”. In economics, the word integration was first employed in industrial organization to refer to combinations of business firms through economic agreements, cartels, concerns, trusts, and mergers— horizontal integration referring to combinations of competitors, vertical integration - combinations of suppliers with customers. In the current sense it is used as - combining separate economies into larger economic regions. The term economic integration is used with different meanings: Transformation from micro-spaces to macro-spaces The lack of discrimination and the progressive elimination of discrimination in the economic relations between countries B. Balassa determined economic integration as a series of processes, through which different states form a commercial regional group or bloc. The achievement of a complete unification between distinct economies. Emergence of the group of countries from the global economy by forming of a single economic structure. Economic integration also tends to precede political integration. In fact, Balassa believed that supranational common markets, with their free movement of economic factors across national borders, naturally generate demand for further integration, not only economically (via monetary unions) but also politically-and, thus, that economic communities naturally evolve into political unions over time. ...