Chapter

Economic Integration in Remote Resource-Rich Regions

Anthony J. Venables

in Costs and Benefits of Economic Integration in Asia

Published in print February 2011 | ISBN: 9780199753987
Published online September 2011 | e-ISBN: 9780199896783 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199753987.003.0007
Economic Integration in Remote Resource-Rich Regions

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What are the effects of regional integration and other trade policy measures in regions such as Central Asia or the Great Lakes Region of Africa where countries are remote with poor access to the outside world and where foreign exchange earnings come largely from natural resource based exports? The chapter shows that if countries have unequal natural resource endowments, then the gains from non-preferential trade liberalization accrue largely to the more resource-rich economies, while the opposite is true for regional integration. Regional integration is a powerful way to spread the benefits of resource wealth more widely, but may also be an obstacle to external trade liberalization.

Keywords: regional integration; natural resources; landlocked; Central Asia; trade; tariffs; oil; terms of trade

Chapter.  7775 words.  Illustrated.

Subjects: Business and Management

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