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Two to Tango : An Evaluation of World Bank Group Support for Fostering Regional Integration
Three overlapping forces shape economic and political systems in the contemporary world order: globalization, regionalism and nationalism. The first wave of regionalism in the 1960-1980 was primarily driven by the trade and tariff agenda, followed by the second wave in the 1980-2000 when regionalism was seen as a useful supplement to multilateralism. Today, in the context of emerging market and developing economies, the new dimensions of regionalism include interactions beyond trade, and can potentially encompasses hard infrastructure, institutional alignments, labor and capital flows. This evaluation focuses on regional integration (RI), which the World Bank Group (WBG) defines as economic interactions across at least two sovereign jurisdictions that are geographically close and resulting in integration of factors and goods, and coordination of policy. According to the 2013 World Bank Group Strategy, transformational engagements are about regional integration, involving both game-changing investments and actions to address policy constraints that require a coordinated response by several countries. Most transformational engagements entail partnerships in which the WBG may play a leading or supporting role. This evaluation is classified under the IEG Strategic Engagement Area (SEA), Inclusive and Sustainable Economic Growth.
World Bank. 2017. Two to tango : an evaluation of World Bank Group support for fostering regional integration (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/420961516900319550/Two-to-tang....