Typical Regional Economic Integration Organization Of Economic Growth Convergence Studies

Since midterm of 1980s the world has been experiencing a new wave of Regional Integration Agreement(RIAs).Enhancing regional economic cooperation and promoting the progress of regional economic integration become an important trend in the world economy.The article Classifies regional economic integration into three models of regional integration:North-North,North-South and South-South and respectively as an example of EU,NAFTA,ASEAN and SADC.However,Facts have proven that effects of different regional integration organizations on members result in the huge income distribution disparity.The article is based on the regional economic growth convergence hypothesis to analysis the Trade,FDI,and Industrial agglomeration effects of regional integration,In North-North and North-South Regional Integration,which caused the convergence,but in South-South Regional Integration,which caused the divergence.The article utilizes the empirical analysis methods,such as qualitative analysis and quantitative analysis,static analysis to judge the regional economic convergence or divergence.This paper systematizes the regional economic convergence hypothesis and the correlative research results,reviewed the fundamental concept of convergenee,and brought forward the frame of total dissertation.After analyzed the regional economicσ-convergence,this paper built a new model which analyzed eonomic growth convergence.The model enuneiated the EU and NAFTA existed absoluteβ-convergence and conditionalβ-convergence.But the ASEAN and SADC existed absoluteβ-divergence and conditionalβ-divergence.There are different effects between developed and developing countries participate in regional integration. The regional integration among developed countries has a positive impact on economic growth convergence,as well as the impact of regional integration among developed and developing countries.While developing countries participate in regional integration with developing countries has a positive impact on economic growth divergence.Based on the ecnomic growth convergence study of EU,NAFTA,ASEAN and SADC.This paper explored the factors which affected the convergence.There are FDI, Trade and Industrial agglomeration.In North-North and North-South Regional Integration,which caused the convergence,but in South-South Regional Integration,which caused the divergence.China should focus on Asia to establish its regional integration strategy and to build a free trade zone around China.On the model of regional integration,China should actively participate in North-South regional integration to boost exports and expand the use of foreign investment and technology introduction.