Theoretical-empirical viewpoints of the effects of economic integration

Abstract

In the last few decades, international integration has been one of the main trends in the development of international economic relations, which, regardless of the level of integration, leads to an increase in the welfare of all or some of the integrating countries, or the world as a whole. The mechanism of creating welfare through the formation of integration agreements was first explained by Viener through the static effects. In addition to static effects, there are also dynamic effects of the formation of the customs union, and they occur as a consequence of changes in the economic performance of integrated countries. The subject of this paper is the analysis of static and dynamic effects of economic integrations, with reference to previous empirical studies of these effects on member countries