Research on Policy Coordination and Benefit Distribution in Regional Economic Integration

Massachusetts Institute of Technology, The United States of America

^* Corresponding author: 641823129@qq.com

Abstract

In recent years, regional economic integration has become an increasingly important component of the development strategies of many countries as a result of globalization and regional integration. There is an increasing emphasis on policy coordination and benefit distribution during the process of regional economic integration, and this puts greater demands on mutual trust and long-term cooperation among participating nations. In this article, we demonstrate the importance of policy coordination mechanisms and principles of benefit distribution in promoting regional economic integration, as well as their key role in achieving balanced regional economic development, through in-depth investigation of these two areas. Integrating regional economics is not merely about economic integration; it also involves coordination and cooperation in policy areas. Coordinating policy is one of the prerequisites for achieving regional economic integration, which involves forming mutually supportive policies in key areas such as finance, currency, and trade. By coordinating policies effectively, member countries can reduce economic friction and enhance the efficiency of resource allocation. It is important to note, however, that in the process of policy coordination, member states may have to relinquish a portion of their policy sovereignty, which will require a high level of mutual trust and a benefit sharing mechanism between countries.