ISSN 2736-1586
African Journal of Geography and Regional Planning ISSN 3627-8945 Vol. 5 (10), pp. 001-012, October, 2018. © International Scholars Journals
Full Length Research Paper
Finding the growth rate during formation of South American community of Nations
R. T. Dalimov1* and A. T Umarov2
1Department of Economics, National University of Uzbekistan, Uzbekistan.
2Department of Mechanics and Mathematics, National University of Uzbekistan, Uzbekistan.
Accepted 23 April, 2018
Abstract
This article considers computation technique of the growth rate during formation of South American Community of Nations. Found values of growth are compared with the ones previously computed for Mexico and Canada under the formation of NAFTA in 1994, and much higher to the ones observed under formation of the EurAzEC in 2000 and the 2004 EU expansion. The method of computing the rate of growth in cases of economic integration requires statistics of the value added of sectors and domestic savings rates of member states willing to be economically integrated.
Key words: Modelling international economic integration, growth rate of the GDP, Latin American economic integration.