Regionalization, localized decision-making (economy)Actions to facilitate International Trade on a regional basis (Regionalization)
Regionalization is the actions taken by Governments to liberalize or facilitate International Trade on a regional basis (Free Trade Areas, Trade Agreements, customs unions...). The purpose of regionalization is facilitating localized decision-making, resource allocation, and development Strategies that reflect regional priorities. Regionalization refers to the process of dividing a larger area or system into smaller, distinct regions based on shared characteristics, such as geography, culture, religion, economy, or administrative needs.
It frequently objectives to improve local governance, economic / trade development, or cultural identity by decentralizing authority or tailoring policies to specific regional needs. Benefits: Promotes efficiency, local empowerment, and tailored solutions but can face challenges like regional disparities or coordination issues. Regionalization allows tailored economic policies, enabling regions to leverage unique strengths (e.g., tourism in coastal areas, manufacturing in industrial hubs). For example, the EU’s Cohesion Policy allocates funds to less-developed regions, reducing disparities. Economic Fragmentation: Overemphasis on regional priorities can weaken national economic cohesion, potentially disrupting trade or supply chains Poland joined the European Union in 2004, gaining access to the EU’s Cohesion Policy, which promotes regionalization by allocating funds to reduce economic disparities across regions. Poland, with its 16 administrative regions, became one of the largest recipients of these funds, aimed at boosting less-developed areas.
The subject “Regionalization” belongs to the following Programs offered by EENI Global Business School: Masters: International Business, Foreign Trade.
Doctorate: Global Trade, Ethics, Religion & Business. Languages:
Area of Knowledge: Globalization. (c) EENI Global Business School (1995-2025)
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