Given the remarkable increase in regional integration agreements [RIAs] in the past decade, understanding of their economic rationale and consequences is essential. Schiff and Winters succeed admirably in covering the conceptual, empirical, and policy issues arising from RIAs in an informed, comprehensible, and accessible manner. Their book should be required reading for policy analysts, academics, and students concerned with evaluation of RIA initiatives. -Robert M. Stern, Department of Economics and Gerald R. Ford School of Public Policy, University of Michigan Regional Integration and Development examines regionalism from the perspective of developing countries and presents a comprehensive account of existing theory and empirical results. This book incorporates the findings of formal analyses of the politics and dynamics of regionalism. It considers the relationship between regionalism and multilateralism and explores the economic advantages of nondiscriminatory trade liberalization, which the authors argue should be exploited to the maximum extent. The book also provides rules of thumb for regionalism, rules that are not inviolable but which should not be violated lightly. Designed as a practical guide for policymakers whose countries are considering membership in a trade bloc, this book will also be of interest to scholars and students of international trade.
