| Description |
1 online resource (xvi, 178 pages) : color illustrations, color maps |
| Series |
World Bank Latin American and Caribbean studies |
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World Bank Latin American and Caribbean studies.
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| Contents |
Cover; Half Title; Title; Copyright; Contents; Foreword; Acknowledgments; Abbreviations; Introduction and Summary of Results; Even in the age of globalization, geography matters for trade, factor flows, and economic performance; Regional trade in LAC and in the Americas: International comparison and determinants; The conceptual arguments for a renewal of open regionalism; Toward the renewal of OR in the Americas: Past efforts and current challenges; It takes a competitive region to make a competitive economy; Notes; References |
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1. Economic Performance and Geography: Rising and Falling with Our NeighborsIntroduction; The geographic clustering of long-term growth spells; The geography of volatility; The geographic clustering of economic performance and its relevance for economic integration strategies; Annex 1A. Classification of regions; Annex 1B. Identification of structural breaks; Annex 1C. Identification of economic cycles; Annex 1D. Variance decomposition using a multilevel factor model; Notes; References; 2. Regional Trade in the Americas: A Stepping-Stone toward Stable Growth?; Introduction |
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Regional trade integration in LAC: International comparison and determinantsRevisiting the arguments in favor of regional integration; In search of complementarities between the gains of regional and global integration; Conclusions; Annex 2A. Estimating trade flows through gravity equations; Annex 2B. Benchmarking intraregional trade in regionally traded services; Notes; References; 3. LAC's Trade Policy and Regional Integration; Introduction; LAC's tariff treatment of the rest of the world; LAC's tariff preferences |
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Implications: LAC's tariff preferences, intraregional trade, and the challenges aheadThe role of regional trade preferences as industrial policy; Conclusions; Annex 3A. Comparative snapshots of LAC's participation in global value chains; Notes; References; 4. In Search of Growth and Stability through Factor Market Integration; Introduction; Three measures of factor market integration; Labor market integration; Capital market integration; Conclusions; Notes; References; Boxes; 1.1 Is distance dead? Technology and its impact on international integration |
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2.1 Trade-in-services data for LAC countries2.2 Estimating the components of export growth volatility; 2.3 Obstacles to integration in energy markets within LAC; 2.4 Identifying new entries using bilateral trade data; 3.1 LAC's major extraregional free trade agreements; 3.2 LAC and the Trans-Pacific Partnership; 3.3 Rules of origin and export protection for FTA partners: The basic analytical framework; 4.1 Labor mobility in trade agreements; 4.2 The Pacific Alliance and MILA; Figures; 1.1 Real GDP per capita relative to the United States, selected regions |
| Summary |
In a clear break from its past, Latin America and the Caribbean (LAC), particularly South America, experienced a growth spurt with equity during the first decade of the 21st century. One policy area that has moved back to center stage is regional integration. Indeed, since at least the 1960s, LAC has experimented with various forms of regional integration with the hope that fostering regional economic ties can yield the type of economic success that the region has long sought. The current push toward regional integration has been influenced by the success of the East Asia and Pacific (EAP) region, where intraregional trade, exports to the rest of the world, and incomes have risen together as the region continues to catch up to the income levels of the United States. The goal of leveraging formal trade arrangements to accelerate growth is evident in many of the trade agreements that are in place in the region. This report revisits the concept of OR and presents evidence supporting the idea that a revitalized OR strategy can contribute to growth with stability by exploiting the complementarities between regional and global economic integration. It presents a five pronged strategy, including: (i) reducing external most-favored-nation (MFN) tariffs; (ii) deepening economic integration between South America and Central and North America; (iii) harmonizing rules and procedures governing the exchange of goods, services, and factors of production; (iv) stepping up efforts to reduce LAC's high trade costs; and (v) integrating labor and capital markets in the Americas. The report draws upon two prominent strands of economic theory. The first is the idea that the gains from trade depend on differences between countries. The second is the idea that trade facilitates learning, either through the experience of exporting or from the exposure to new products and ideas that are embodied in imports |
| Bibliography |
Includes bibliographical references |
| Notes |
Resource, viewed April 27, 2017 |
| Subject |
Economic development -- Latin America
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Foreign trade regulation -- Latin America
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POLITICAL SCIENCE -- Essays.
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POLITICAL SCIENCE -- Government -- General.
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POLITICAL SCIENCE -- Government -- National.
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POLITICAL SCIENCE -- Reference.
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Economic development
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Foreign trade regulation
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International economic integration
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| SUBJECT |
Latin America -- Economic integration
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| Subject |
Latin America
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| Form |
Electronic book
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| Author |
Lederman, Daniel, 1968- author
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Pienknagura, Samuel, author.
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Robertson, Raymond, 1969- author.
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World Bank Group, issuing body.
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| LC no. |
2017385370 |
| ISBN |
9781464809781 |
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146480978X |
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