Monitoring Basic Characteristics of Various Economic-Geographic Regions for Economic Integration Possibility

Motivation of virtually all regional economic integration initiatives has been prospect of enhanced economic growth. Lower transaction costs for business, lower risks associated with investment, expansion of markets, pooling of regional resources, better utilization of economies of scale in production, and more efficient allocation of resources, are part of economic benefits of economic integration. It is however, indisputable that, in order to achieve some of these benefits, strong national economic policies will need to be made by collecting accuracy and pure information about the possible economic partner region. Therefore in this study, the basic characteristics of various Economic-Geographic regions such as demographic trends, economic performance, structure of trade, technology diffusion & creation and energy sources are investigated for economic integration possibility of these regions.