Global Development of Regional Integration Model (Gdri-Model)
FEA Working Paper No. 2004-7
42 Pages Posted: 27 Feb 2005
This research paper presents a new model of analysis to study the trend of regional integration from a global perspective. This new model is called the Global Dimension of Regional Integration Model (GDRI-Model). The rationale for the creation of this model is the necessity to study regional integration from political, social, economic, and technological perspectives simultaneously.
There are four basic phases in the implementation of GDRI-Model. The first phase is the design of the multi-input database table. The second phase is the measurement of individual Regional Global Development Indexes (Xi), which include the Regional Global Political Development Index (X1), Regional Global Social Development Index (X2), Regional Global Economic Development Index (X3) and Regional Global Technological Development Index (X4). The third phase is the measurement of the Regional Global Development (RGD) index. The last phase is the measurement of Regional Integration Stage (RIS) index.
The general objective of GDRI-Model is to offer policy-makers and researchers a new analytical tool to study the evolution and stages of any regional integration process from a global perspective - based on a group of indexes and graphs. The GDRI-Model is not intended to be a forecasting model in any case. However, its application is not limited to the study of a special group of countries or regions. It is not constrained by issues about the region or the development stages of any member in a region that is interested in integrating into a single regional trade bloc. The GDRI-Model, in effect, is a simple and flexible scheme, which can be applied to any case of regional integration.
Keywords: Global development indexes, regional integration, economics modeling, Intra-regional global development index, regional integration stage index, economic development and domestic system development
JEL Classification: F15
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