Regional Economic Integrations and Capital Movement – Measuring the Level of Capital Mobility

The continuing process of globalization has resulted in new trends of economic relations among countries. The modern regional integration goes beyond the traditional removal of barriers and includes free movement of factors of production which brings larger benefits than merely those from the liberalization of trade. In this paper the analysis of the level of capital mobility in the four regional integrations (EU-15, ASEAN, MERCOSUR and NAFTA) has been conducted in order to examine the level of capital mobility in the mentioned integrations as well as to analyze the effect that the formation of the integration had on its capital mobility