Microregionalism and Economic Theory Essay Example | Topics and Well Written Essays - 250 words

Microregionalism and Economic Theory - Essay ExampleThis according to Gamble & Payne (1996) form of regionalism is as a result of economic forces, monetary resource and production. Globalization has been on the verge due to transnational economic relationships expanding the economy to a globose capitalist division of production and labor. This form of regionalism has been due to transaction enterprises pursuing interests on the spatial scale of the region.The micro-regional firms are able to expand their markets such that they sell their commodities locally and around the region. This, according to Fawcett & Hurrell (1995) is because regionalization links well with globalization. The firms are able to learn from the competitors who are also in the system of regionalism.The governments are able to get economic interaction and collaboration leading to the expansion of their global market. Through this system, governments are able to exploit technology of other states and also explo it their capital. The process also helps the government to indulge in joint maturation of the resources available. This applies also to the industries according to Breslin & Hook (2002). Through micro regionalism, the government can solve the trans-boundary issues that arise in day to day activities. Consequently micro-regionalism is a beam of light for firms and the government to benefit from the comparative advantage of the regions which are