Integration through Jurisprudence - The Role of Courts - Research Paper Example

European Union has achieved good success and progress through regional economic integration and became a role model for regional economic integration in other parts of the world. For interstate cooperation, European countries have established solid and institutionalised mechanisms, which later led to the advancement of supranational agents (Hidetaka, 2003).For promoting international cooperation, countries may choose either collaboration or coordination process. In the collaboration process, independent decision making from the country leads to outcomes, whereas in the coordination process countries need to be coordinate for common rules for achieving outcomes.

Success or failure of regional integration depends on the capacity for overcoming collaboration and coordination problems by the countries in a region (Hidetaka, 2003). Germany played a key role in the process of European economic integration whiles initiating an idea of setting up of European Monetary System in 1978. In 1988, it was relaunched and reshaped into the European Economic and Monetary Union. In the process, it had initiated coordinative steps with all member countries including France to avoid any confrontation in the future.

The success story of the European Union has prompted the process of regional economic integration in other parts of the world. Up course, all other regions have not emulated the European model in a straightforward way but definitely influenced by the model. In addition, some regions lack a dominant country for taking a leadership role in the interests of the entire region (Hidetaka, 2003).Economic integration is the process of elimination of economic barriers between the economies of two or more countries.