SOME ISSUES OF THE THEORY OF ECONOMIC INTEGRATION AND PRACTICE OF MEGA-REGIONAL AGREEMENTS

Abstract

The author gives a definition of mega-agreements and outlines their qualitative characteristics such as versatility, extra regionality, large scale, regulatory questions which do not fall in WTO competence. Quantitative criteria of mega-integration (a cumulative share of alliance in the world trade, GWP, world investments, market capacity) and their threshold values are offered. It is proved that mega- agreements’ practice does not conform to the majority of requirements for the linearly-stadial model devised by B. Balassa. Specific features of TTP and TTIP are revealed on the basis of the hub-and-spoke model.