Challenges and Opportunities of Small Countries for Integration into the Global Economy, as a Case of Mongolia
AbstractThis paper examines the impacts of globalization on small countries, covering the main features of globalization, the quality of national economic and commercial environment, main characteristics of small countries including important facts and concrete indicators for their development, and their challenges and opportunities for regional integration. It concludes that: 1) globalization is a process of continuing integration of the countries of the world that is beneficial, inevitable and irreversible. No any country can afford to remain isolated from the world economy. 2) some of small countries might have higher income and much richer than others. But all small countries do not posse such an advantage. Therefore, the small countries were in this paper differently considered according to their per capita income level which varies significantly from each others. 3) For most developing countries, in particular the small and poor countries, a North-South Regional Integration Agreement with a large industrial country is likely to be superior to a South-South Regional Integration Agreement with a developing or poor small country. --
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Bibliographic InfoPaper provided by Dresden University of Technology, Faculty of Business and Economics, Department of Economics in its series Dresden Discussion Paper Series in Economics with number 13/04.
Date of creation: 2004
Date of revision:
Globalization; small countries; economic integration; income distribution;
Find related papers by JEL classification:
- F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
- F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
- F15 - International Economics - - Trade - - - Economic Integration
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- Brautigam, Deborah & Woolcock, Michael, 2001. "Small States in a Global Economy: The Role of Institutions in Managing Vulnerability and Opportunity in Small Developing Countries," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
- Balassa, Bela, 1969. "Country Size and Trade Patterns: Comment," American Economic Review, American Economic Association, vol. 59(1), pages 201-04, March.
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