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- Herausgeber: Universidad del Norte
- Kategorie: Fachliteratur
- Sprache: Spanisch
Due to different social, political, and economic cycles, international trade dynamics and protectionist initiatives become evident worldwide. Therefore, understanding international economic integration is highly significant. This textbook looks to understand international economic integration from a historical, theoretical, and practical outlook deriving essential lessons for developing economies. Each section contains specific exercises to apply a wide variety of concepts and tools. It is expected that the reader develops a critical perspective of the topics analyzed to use them in the dynamic and changing business environment. This book is suggested for people with basic knowledge in international business, economics, and related disciplines.
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Veröffentlichungsjahr: 2022
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About this book
International Economic Integration. Challenges and Opportunities for Developing Markets
Lorena A. Palacios-Chacón
Jahir Lombana-Coy
Patricia Margarita Reynaga-Alcalá
Due to different social, political, and economic cycles, international trade dynamics and protectionist initiatives become evident worldwide. Therefore, understanding international economic integration is highly significant. This textbook looks to understand international economic integration from a historical, theoretical, and practical outlook deriving essential lessons for developing economies. Each section contains specific exercises to apply a wide variety of concepts and tools. It is expected that the reader develops a critical perspective of the topics analyzed to use them in the dynamic and changing business environment. This book is suggested for people with basic knowledge in international business, economics, and related disciplines.
D.R. © Instituto Tecnológico y de Estudios Superiores de Monterrey, Mexico 2022.
D.R. © Universidad del Norte, Colombia 2022.
About the authors
Lorena A. Palacios-Chacón
Full Time Professor of International Business at Tecnológico de Monterrey (ITESM). Dr. Palacios-Chacon earned her Ph.D. in management from the University of Puerto Rico and her two degrees in economics and finance and international trade from Sergio Arboleda University. One of her main interests is writing teaching cases; she has participated in several conferences, winning multiple best-case awards. She is a member of the Board of Directors of the Latin American Case Association (ALAC). Dr. Palacios-Chacon has written books and articles in the areas of internationalization of the firm, financial deepening in Colombia, the processes of offshore and outsourcing of companies, and international economic integration between countries. Her more recent line of research includes multinationals from emerging markets, especially multilatinas.
Jahir Lombana-Coy
Ph.D. in Economics at the University of Goettingen (Germany), Master’s Degree in International Studies at the University of Chile. Specialist in International Relations at the University of Chile with an undergraduate degree in Economics at the Universidad del Rosario (Colombia). He was a specialized professional at the Ministry of Foreign Trade in Colombia, Director/Editor of the foreign trade website of fresh fruits and vegetables: www.freshplaza.es and www.freshplaza.com; project consultant in Europe and Latin America in several organizations (e.g., FAO, Fredrich Ebert Stiftung, INRA France, AUGURA, Colombian Planning Department). Currently is an Associate Professor of Competitiveness and International Business at the Universidad del Norte (Colombia).
Patricia Margarita Reynaga-Alcalá
WW Regulatory Compliance Manager II for HP for 20 years generating policies, resolving compliance complex issues, due diligence, acquisitions, governmental relationship whit customs authorities, among other thinks.
Director of International Business, Business Management, and Innovation bachelor’s degrees at Tecnológico de Monterrey. She works as a professor of various subjects, and she also collaborates in defining 2019 study plans. She has participated as a speaker in workshops and as a company consultant.
Acknowledgments
To my parents for always being an inspiration and guide; to my sister for sharing the pleasure of teaching; and to my students because it is for them that every pedagogical initiative is worthwhile.
Lorena
To my parents in heaven and my family on earth. Especially to María Carolina, Sofía, and Lena for their patience and tolerance in time and space to successfully end this textbook.
Jahir
I thank life for giving me so much for so long, for the opportunity to learn from my parents, my family, and the students. Thanks to Lorena and Jahir for this opportunity and experience.
Patricia
Gratitude
The authors thank Heidy Fontalvo for the pedagogical accompaniment and the monitors Jesús López and Elsa Baños for their effective collaboration in the different stages of the process. To Eduanys Anaya, who was invaluable support from the Textos Guía project; to the entire Editorial team of the Universidad del Norte and the Directorate of Quality and Academic Projects of the same university, who led us in the development of this work in academic and publishing aspects. Likewise, we are grateful for the support of Alejandra González and Elizabeth López from the Tecnológico de Monterrey Digital Publishing House for leading the entire co-editing effort. Finally, we are thankful to the anonymous peers who supported us with constructive feedback and the style editor who put a final touch on our words.
Introduction
One of the most relevant skills for university students is the capacity to adapt to an ever-changing world. International Integration is an example of a highly dynamic activity, and understanding it is key to acknowledging countries, enterprises, and social relationships. The main objective of this book is to address this topic through four sections, each one highlighting the challenges and opportunities for developing countries, especially emerging ones, as they hold the largest growth potential and the greatest possibility of becoming modern, industrial economies with a higher standard of living (Kolodko, 2002).
Chapter 1 is an overview of the evolution of international economic integration and some of its main concepts. It starts by offering a historical background beginning in WWII, in which the relevance of different integration processes is highlighted. Next, it describes the different levels of integration, explaining the benefits of each. The third section presents the main trade barriers and analyzes the advantages and disadvantages of international economic integration. Lastly, the chapter considers the relationship between trade and development as viewed through the lenses of the "aid for trade" and "trade for trade" approaches.
As a complement to the first section, Chapter 2 explores the Multilateral Trading System. First, it provides the World Trade Organization (WTO) background. It then looks at its definition, principles, and functions, emphasizing the most controversial topics in the international trade arena, for example, the Government Procurement Policies, the Sanitary and Phytosanitary Measures, and the Technical Barriers to Trade. The chapter ends with an explanation of the Trade Facilitation Agreement and a forecast of the organization’s future.
Next, Chapter 3 focuses on describing and understanding Regional Trade Agreements (RTAs). Under the Most Favored Nation principle, if a member of the WTO offers a benefit to another country, it must extend that benefit to the rest of the WTO members. This principle is the cornerstone of the Multilateral Trading System. Among its exceptions, however, are the RTAs, which have proliferated in the world mainly because of countries' pressing needs to associate. Knowledge of such regionalization is relevant due to its implications for globalization and business relations. Additionally, understanding the integration processes and their resulting opportunities can differentiate success and failure in internationalization activities. For some countries, however, economic integration is not a priority; therefore, the chapter ends with a discussion on the drawbacks of this process.
Following the increasing number of RTAs that have been signed and ratified, Chapter 4 describes Global Value Chains (GVCs) as a new way of fostering economic development in any type of country. Thus, the section defines GVCs and explains their implications on trade dynamics. After outlining the new challenges from the COVID-19 pandemic outbreak and its resulting lockdowns, it describes strategies to reconfigure GVCs under uncertainty.
Throughout each of the chapters, there are questions designed to test the comprehension of each topic. Moreover, at the end of each section, students will find interrogations and exercises to help them consolidate their learning process. The book ends with a set of conclusions emphasizing the recent growth of most developing economies that have changed free trade geopolitics and how the new world relations bear both challenges and opportunities for these types of economies.
