ABSTRACT
With regional integration countries aim at intensifying the international division of labor, albeit within regional borders. We first report the experience with different forms of regional integration (section 9.1). An important aspect is the impact of regional integration on regional and world welfare, i.e. whether regional integration is trade-creating or trade-diverting (section 9.2). A fundamental question is whether regional integration facilitates or impedes the development of a multilateral order (section 9.3).
