Systems of Indicators for Monitoring Regional Integration Processes: Where Do We Stand?
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 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 presents a critical review of recent proposals and experiences with setting up indicator systems for monitoring regional integration processes. The review will cover both conceptual (academic) proposals as well as proposed and/or implemented indicator systems developed at the level of regional organizations such as the European Commission, ECB, UN Economic Commission for Africa, ASEAN, COMESA, etc.
A systematic comparison of the different indicator systems (covering both technical and politicaleconomy aspects) should make it possible to evaluate their relative qualities and to identify best practices.