The European Single Market, NAFTA and Mercosur powerfully shape international relations and economic development; they also symbolize a shift in economic policy towards a world market-oriented and liberalizing strategy. Schirm argues that this new regionalism is essentially aresult of the impact of globalization on domestic politics. The increasing transnational mobility of private economic actors alters the costs and benefits of economic policy options for governments as well as the interests of domestic groups. Globalization stimulates economic reforms whose economic efficiency and political acceptability are increased through regional cooperation.

Preface. Abbreviations. I. Empirical Puzzle and Theoretical Approach. Introduction. The Weaknesses of Regional Integration Theories. The Global Markets Approach in Explaining Cooperation. Methodology and the Empirical Plausibility of the Hypotheses. II. Global Markets: Development and Impact on States. Global Financial Markets. Global Production and Foreign Direct Investment. World Trade. Conclusion: Crises, Interests, and Instruments. III. Global Markets and the European Single Market. Liberalization Strategies in the Single Market Project "1992". France. Germany. Great Britain. The European Level. Conclusion. IV. Global Markets and MERCOSUR. Liberalization Strategies in the Common Market of the South. Argentina. Excursus: Transnational Banks and the International Monetary Fund. Brazil. Conclusion. V. Global Markets and NAFTA. Liberalization Strategies in the North American Free Trade Agreement. Mexico. United States. Conclusion. VI. Comparative Conclusions, Empirical and Theoretical Results. Empirical Results: Preference and the Global Markets Approach. Theoretical Development of the Global Markets Approach. Implications for Theories of Regional Integration and International Relations. Notes. References. Index