Term
| Regional economic integration (regionalism) |
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Definition
| Process whereby by countries in a geographic region cooperate to reduce or eliminate barrier s to the international flow of product, people, or capital |
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Definition
| Economic integration whereby countries seek to remove all barriers to trade among themselves but where each country determines its own barriers against non-members |
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Definition
| Economic integration whereby countries remove all barriers to trade among themselves and set a common trade policy against non-members |
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Definition
| Economic integration whereby countries removes all barriers to trade and to the movement of labor and capital among themselves and set a common trade policy against non-members |
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Definition
| Economic integration whereby countries remove barriers to trade and the movement of labor and capital among members, set a common trade policy against non-members, and coordinate their economic policies |
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Definition
| Economic and political integration whereby countries coordinate aspects of their economic and political systems |
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Definition
| Increase in the level of trade between nations that results from regional economic integration |
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Definition
| Diversion of trade away from nations not belonging to a trade bloc and toward member nations |
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Definition
| European Union plan that established its own central bank and currency |
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