Strengthening global economic growth through regional cooperation

Gorgieva-Trajkovska, Olivera and Dimitrova, Janka (2013) Strengthening global economic growth through regional cooperation. International conference "Regional Economic Cooperation in the Process of Globalization", DU Tetovo.

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Globalization is a complex, multidimensional and uneven process through which goods and services, capital, people, information and ideas flow across borders, leading to greater integration of economies and societies. The benefits are clearly visible in the increased trade, higher growth and falling poverty of countries fully engaged in the process. Globalization, however, has become controversial precisely because of the uneven distribution of its benefits and its equally visible negative impacts in countries where it has caused job losses, rising income disparity and environmental challenges. In a period of growing global economic interdependence, regional cooperation offers countries an effective vehicle for achieving faster economic development. This study examines the ways in which regional cooperation can contribute to both regional and national shared interests and prosperity, consistent with the multilateral framework. Globalization has become an unstoppable phenomenon affecting all aspects of our lives. But not all countries are receiving the benefits. An urgent challenge is to draw on the considerable strengths of our region in promoting economic prosperity to achieve internationally agreed development goals. Global initiatives bring, by design, shared benefits. Regional initiatives enhance self-reliance and prospects for the participating countries. But, indirectly, regional initiatives can yield global benefits too, provided that an outward-looking orientation is maintained. Regional trade agreements can also contribute to strengthening the underpinnings of sustained growth. Key words: globalization, regional, economic, cooperation, strengthening

Item Type: Article
Subjects: Social Sciences > Economics and business
Divisions: Faculty of Economics
Depositing User: Olivera Trajkovska
Date Deposited: 29 Jan 2014 09:08
Last Modified: 04 Aug 2015 10:14

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