Summary of economic integration as a category of modern economics

Abstract

The article presents approaches to the definition of economic integration. It is proved that economic cooperation and integration could help address the political, social and economic problem of the region by boosting growth, fostering diversification, and stimulating employment. Further developed systematization of approaches to the definition of “economic integration” is presented. It was proved that the concept of economic integration implies that nations come together in some type of partnership to foster trade and development.