Regional Integration and Poverty
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چکیده
It is often suggested that regional integration is good for poverty by increasing trade and investment and creating jobs for the poor. At the same time, the number and scope of regional trade agreements is increasing rapidly. However, there is little about whether and how regional integration provisions affect development and poverty in poor countries. The findings of a multi-country research project reveal that while there is a role for regions, expectations relating to poverty effects should be tempered. The trade effects from developing country regional integration are expected to be small because of the low importance of intra-regional trade for most developing countries. While regional integration does tend to raise investment from outside, the bigger countries tend to capture most of the benefits. Capacity constraints further limit the ability of poor countries to benefit fully from trade and investment liberalisation. In addition, regional integration processes affect the incentives to engage in multilateral integration. On the positive side, regional groupings are well placed to address poverty by providing appropriate regional public goods and dealing with liberalisation of sensitive services sectors. Thus the scope of regional integration matters.
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