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A step further in the theory of regional integration: A look at the South American integration strategy

Abstract:

Although literature about regional integration is substantial, its definition remains controversial. Indeed, it is common nowadays for the terms regional integration and regional economic integration to be used interchangeably in spite of the importance accorded by literature to non-economic factors. Inspired on the South American integration strategy—the Union of South American Nations (UNASUR), this paper revisits the theory of regional integration and proposes to analyse regional integration projects from three complementary angles: economic integration, political integration and physical integration. Moreover, it asserts that political and physical integration constitute a preliminary, or contemporaneous, step towards economic integration and not a final stage, as the current debate suggests.