Reformatting Global Economic Governance in Conditions of New, Mega-Regional Integration

Анотація

The current study focuses on the transformation of global economic governance in the light of current globalization processes, which are characterized by the emergence of new players on the world stage as a result of a qualitative change in the phenomenon of regionalization of the world economy. The relevance of the study is justified by the fact that the various modes of global economic governance coexist (starting with the quasi-hierarchical system of supranational organizations and ending with network forms of dissipative governance), where mega-regional integration is one of the attempts to achieve economic development which goes far beyond national borders. In this context, mega-regional integration can be seen as the basis for actualization or one of the modern tools of global economic governance.
 According to the stated goal, the article considers the prerequisites of new mega-regional integration from the point of view of the current crisis of multilateralism as well as the economic potential for creation and functioning of mega-regional agreements. Based on the research results of such domestic and foreign scientists as: Reznikova N.V., Malyuta A.I., Pashchenko O.V., Sheargold E., Juutinen M., Sandrey R., Bown Ch.P. et al.it was possible to conclude on the unprecedented scale of mega-regional agreements and to question the effectiveness of modern methods of achieving inter-state consensus and global goals.
 The article deals with the main MRTA /MRU: BRICS, TTIP, TPP, RCEP and SCO, and explores the global goals of these associations. The prevalence of a hybrid form of global economic governance in the context of mega-regionalism is shown, namely, mega-regional integration groups combine efforts of different states in the form of "block – block", "country – block" and “countries-global leaders”. The complementarity of MRTA /MRU functioning to the existing forms of global economic governance is argued. The further research in this sphere is suggested, it should be related to exploring the prospects of economic development of mega-regional unions and of cooperation of Ukraine with them.

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