Systems of Indicators for Monitoring Regional Integration Processes:

Abstract

Systematically monitoring regional integration processes is a relatively recent activity, but its potential is quite important. From an academic perspective, it allows us to get a more precise idea of the depth and speed of certain regional integration processes, more clarity on the relative importance of regionalization versus globalization processes (and their interaction), and a better understanding of the meaning and significance of the so-called new regionalism. From a policy-making perspective, a better monitoring has the capacity to make integration policies more development effective and integration processes more transparent, involving higher degrees of participation and legitimacy, and therefore, making the processes more sustainable. In this paper the authors present a critical review of recent proposals and experiences with setting up indicator systems for monitoring regional integration processes in different parts of the world. The review covers both conceptual (academic) proposals as well as indicator systems developed by or for regional organizations such as the European Commission, the European Central Bank, the UN Economic Commission for Africa, ASEAN, COMESA, etc. A systematic comparison of the different indicator systems (covering both technical and political-economy aspects) makes it possible to evaluate their relative qualities and to identify best practices.