EVOLUTION OF ECONOMIC INTEGRATION MODELS

Abstract

The study of theoretical concepts of economic integration is carried out. The results of the survey showed that the formation of the integration model is taking place in accordance with the interests and goals of the participating countries. The economic integration of developing countries allows them to increase their competitiveness through new sales markets and the resulting economies of scale. The integration processes of developed countries have the ultimate goal of better resource allocation. Unlike developed countries, developing countries pursue the goals of faster growth in the long term and the involvement of unused or underutilized resources in production, changes in the structure of trade with the rest of the world, and increased international competitiveness. In developed countries, economic integration usually precedes political integration. And the motives for economic integration among developing countries are often political in nature. Thus, for the success of integration, a combination of not only economic but also favorable political factors is necessary. The widespread polarized models - the highly institutionalized European model of integration and the flexible project-oriented Asian model – predetermined the emergence of a new hybrid form. A distinctive feature of the new model of economic integration is the combination of a course towards liberalization, an emphasis on infrastructure development, the absence of political requirements, the possibility of making changes and additions during implementation.