Governance and Economic Integration: Stakes for Asia

Abstract

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Are Countries Participating into Regional Integration Performing Better in Growth and Liberalization Than Non-Participators? A Study on European Countries

“…In fact the rate swelled up from 11.75 percent (1970-1974) to 843.86 percent (1990-1993) and then it reduced to 190.05 percent during -1998. Then it dropped to 20.71 percent during 1999-2003, to 7.47 percent during 2004-2008and to 5.77 percent during 2009-2013. Gross average rate of inflation for the complete forty four year period for all countries was 128 percent, with 185.60 percent during 1970-1993 and 56 percent during 1994-2013.…”

“…In his study on Asian countries focusing on the importance of improved governance coupled with economic integration contributing towards growth, Owen (2013) detected that improved government alongside with the proper policy making can make regional integration more effective and diversified and robust growth also can be obtained. Analyzing the existing regionalism or economic integration in Asian countries, Rai (2010) found that though integration has increased, sense of cooperation has not.…”

“…Table 4. Average export orientation ratio (% of GDP), in EU, 1970-2013Countries 1970-19741975-19791980-19841985-19891990-1998-2003-2008 …”

“…Table 9. Average GDP growth rates (%), in Non-EU 1970-2013Countries 1970-19741975-19791980-19841985-19891990-1998-2003-2008 62 (1970-1974), 29.11 (1975-1979), 28.96 (1980-1984), 29.76 (1985-1989), 41.23 (1990-1993), 44.72 (1994-1998), 47.18 (1999-2003), 51.48 (2004-2008) and 48.71 percent (2009-2013). For the total period, average import orientation ratios for Montenegro (66.17) and Ukraine (46.35) were comparatively higher than other Non-EU countries.…”

“…Overall averages for the twenty one countries were 29.03 (1970-1974), 28.67 (1975-1979), 28.78 (1980-1984), 27.81 (1985-1989), 39.06 (1990-1993), 38.85 (1994-1998), 42.53 (1999-2003), 45.71 (2004-2008) and 44.54 percent (2009-2013 Table 11. Average import penetration (% of Total Consumption), in Non-EU, 1970-2013Countries 1970-19741975-19791980-19841985-19891990-1998-2003 …”