The economics of international integration

In this comprehensive second edition of The Economics of International Integration, Miroslav N. Jovanović examines the theory of international economic integration and explores the existing and emerging international integration agreements, their achievements, problems and prospects. One of the most important issues in international economics today concerns the dissipating multilateral trading system and the proliferation of a number of trading blocs and arrangements. This has been particularly the case after the establishment of the World Trade Organization in 1995 and especially during the Doha Round (2001-13). -- This book takes on those and other important new issues such as integration through spatially fragmented production, and the operation of supply chains. The author argues that international economic integration deals are here to stay, and evolve with variable successes in spite of advantages offered by the multilateral trading system. Jovanović's second edition includes up-to-date surveys of economic integration and their agreements, criticism of the eurozone and speculation on the future of integration. -- 'I taught one course on economic policy at Queen's University and met Miroslav Jovanović, who was the outstanding student in my class. I have followed his career ever since ... The most distinctive aspect of his treatment continues to be his union of theory and applied material. For him, the major interest always resides in the problems created by the working out of various forms of integration in real situations. He uses theory but no more than is needed to act as a tool for enlightening our understanding of what we see in the world around us ... For those who want a comprehensive survey relevant for understanding the issues surrounding economic integration, this is an excellent book.' (From the foreword by Richard G. Lipsey).