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Integration |
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IntegrationEconomic integration refers to reducing barriers among countries to transactions and to movements of goods, capital, and labor, including harmonization of laws, regulations, and standards. Common forms include FTAs, customs unions, and common markets. Sometimes classified as shallow integration vs. deep integration.Similar MatchesForward integrationForward integrationAcquisition by a firm of a larger part of its distribution chain, moving it closer to selling directly to its ultimate customers. Shallow integrationShallow integrationReduction or elimination of tariffs, quotas, and other barriers to trade in goods at the border, such as trade-limiting customs procedures. Contrasts with deep integration. Economies of vertical integrationEconomies of vertical integrationProduced by achieving lower operating costs by owning all components of production and sometimes sales outlets rather than contracting for companies in the outside marketplace. Deep integrationDeep integrationRefers to economic integration that goes well beyond removal of formal barriers to trade and includes various ways of reducing the international burden of differing national regulations, such as mutual recognition and harmonization. Contrasts with shallow integration. Trade integrationTrade integrationThe process of increasing a country's participation in world markets through trade, accomplsihed by trade liberalization. Further SuggestionsVertical integrationBackward integration Horizontal integration Economic integration Disintegration |
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