South-South Regional Financial Arrangements: Collaboration Towards Resilience

The book explores how regional cooperation and integration have increased in scale and scope in recent years, driven by developing countries seeking new growth paths and protection from economic turbulence. The international financial system's limitations have also contributed to this trend.

Format: Paperback / softback
Length: 361 pages
Publication date: 20 January 2023
Publisher: Springer Nature Switzerland AG

The book explores the growing trend of regional cooperation and integration among developing countries, driven by their desire to mitigate the impact of economic volatility and stimulate economic growth in the face of stagnant global demand. This trend is not only a response to the limitations of the international financial system but also reflects a broader search for alternative growth paths that are more aligned with the unique economic and political realities of developing countries.

The book highlights the significant changes that have taken place in the financial and monetary landscape over the past decade, particularly in the aftermath of the 2007-2008 economic crisis. It examines how developing countries have sought to strengthen their financial institutions, promote regional trade, and develop integrated financial markets to enhance their resilience and promote economic stability.

One of the key themes of the book is the role of regional integration organizations such as the African Union, the European Union, and the Association of Southeast Asian Nations (ASEAN) in fostering regional cooperation and integration. These organizations have played a crucial role in promoting economic development, trade, and investment within their respective regions, and have helped to mitigate the impact of external shocks and global economic downturns.

The book also explores the challenges and opportunities that arise from regional cooperation and integration. While it offers a promising avenue for developing countries to achieve economic growth and prosperity, it also presents challenges such as regional disparities, political instability, and cultural differences that can hinder progress.

To address these challenges, the book suggests a range of policy recommendations and strategies that developing countries can adopt to promote regional cooperation and integration. These include promoting investment in infrastructure, fostering cross-border trade, and developing regional financial institutions to support economic growth.

In conclusion, the book provides a comprehensive analysis of the growing trend of regional cooperation and integration among developing countries, and its implications for economic development and global stability. It highlights the importance of regional integration organizations in fostering regional cooperation and offers practical recommendations for developing countries to promote regional integration and achieve sustainable economic growth.
The growing trend of regional cooperation and integration among developing countries has been a significant development in recent years. This trend is driven by a variety of factors, including the need to mitigate the impact of economic volatility, stimulate economic growth, and respond to the limitations of the international financial system.

One of the key drivers of this trend is the desire of developing countries to shield themselves from economic turbulence and kick-start their economies in the face of stagnant global demand. The international financial system, which has been characterized by its instability and vulnerability, has left many developing countries vulnerable to economic shocks and crises. Regional cooperation and integration offer a way for developing countries to strengthen their economic resilience and promote sustainable growth.

Another factor driving regional cooperation and integration is the increasing economic and political voice of developing countries. As these countries continue to grow and develop, they are becoming more assertive in their interactions with the global economy and international institutions. They are seeking to shape the rules and regulations that govern international trade and finance to ensure that they are more equitable and beneficial to their economies.

The trend of regional cooperation and integration has led to a significant change in the financial and monetary landscape. Developing countries have sought to strengthen their financial institutions, promote regional trade, and develop integrated financial markets to enhance their resilience and promote economic stability.

Regional integration organizations such as the African Union, the European Union, and the Association of Southeast Asian Nations (ASEAN) have played a crucial role in fostering regional cooperation and integration. These organizations have promoted economic development, trade, and investment within their respective regions, and have helped to mitigate the impact of external shocks and global economic downturns.

However, regional cooperation and integration also present challenges and opportunities. While it offers a promising avenue for developing countries to achieve economic growth and prosperity, it also presents challenges such as regional disparities, political instability, and cultural differences that can hinder progress.

To address these challenges, developing countries need to adopt a range of policy recommendations and strategies. These include promoting investment in infrastructure, fostering cross-border trade, and developing regional financial institutions to support economic growth.

In conclusion, the growing trend of regional cooperation and integration among developing countries has been a significant development in recent years. This trend is driven by a variety of factors, including the need to mitigate the impact of economic volatility, stimulate economic growth, and respond to the limitations of the international financial system. By adopting a range of policy recommendations and strategies, developing countries can promote regional cooperation and integration and achieve sustainable economic growth.

Weight: 511g
Dimension: 210 x 148 (mm)
ISBN-13: 9783030645786
Edition number: 1st ed. 2022