Paweł Pasierbiak

The aim of this study is to review selected effects of regional market integration in theoretical terms. In contemporary conditions, when the processes of regional integration are increasingly challenged, this study will be a kind of return to the roots of regional economic integration. It covers a free trade area, a customs union, and a common market, for which selected effects of economic integration are presented. The literature indicates various, but not always positive, effects of market integration. As a set of factors motivates decisions concerning engagement in integration processes, it is worth pointing out objective economic effects as the basis for rational political decisions. In order to achieve the aim of the study, a critical review of literature published since the mid-20th century and a descriptive method have been used.

The processes of regional economic integration are one of the most important trends in the contemporary world economy. In the area of East Asia, these kind of activities are also present, but they are essentially bottom-up in nature, based on spontaneously developing economic ties. However, there are also initiatives which increasingly involve East Asian countries at the institutional level. The aim of the article is to present the evolution of East Asian regionalism, evaluate it and indicate the prospects for its development. The author concludes that contemporary East Asian countries are engaged in the development of the process of regionalism, which shows characteristics that distinguish it from the initiatives undertaken in other geographical areas. The author underlines the key importance of China in this process – its involvement will influence the further development of East Asian regionalism. The research methods used in the paper included mainly a critical review of the literature, descriptive method and, to a limited extent, method of statistical analysis.