In the section Surveys
Title of the article The Role of Institutions in International Economic Integration
Pages 72-88
Author 1 Natalia Petrovna Ryzhova
Candidate Economics, Head of the Amur laboratory of Economics and Sociology
Economic Research Institute FEB RAS
153 Tikhookeanskaya Street, Khabarovsk, Russia, 680042
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Abstract The article reviews the studies on the subject of international economic integration, based on new institutional economic theory methodology. It is shown that formal agreements on international economic integration are aimed at transaction costs reduction via trade barriers cut; however, national governments can’t adjust informal barriers such as linguistic, religious, cultural differences and various kinds of predatory behavior. The author focuses on the types of international economic integration, which arise from coherent, parallel and conflict relationships between formal and informal institutions, constituting the process of economic integration. The article emphasizes the studies discussing not just the effects of the correlation between formal and informal institutions on the process of international economic integration, but also the positive externalities in the form of quality improvements of institutions, arising from the process of international economic integration.
Code 330+339
DOI 10.14530/se.2013.1.072-088
Keywords ♦ international economic integration ♦ cross-border economic exchanges ♦ new institutional economic theory ♦ formal and informal institutions ♦ transaction costs ♦ trade barriers
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For citation Ryzhova N.P. The Role of Institutions in International Economic Integration. Prostranstvennaya Ekonomika = Spatial Economics, 2013, no. 1, pp. 72-88. DOI: 10.14530/se.2013.1.072-088. (In Russian).
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