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Title Deep trade agreements : anchoring global value chains in Latin America and the Caribbean / Nadia Rocha, Michele Ruta, editors
Published Washington, DC : World Bank Group, [2022]


Description 1 online resource (xx, 255 pages) : color illustrations, color maps
Contents Cover -- Half Title -- Title Page -- Copyright Page -- Table of Contents -- Foreword -- Acknowledgments -- About the Editors and Contributors -- Abbreviations -- OVERVIEW -- Introduction -- Latin America and the Caribbean's poor international integration and limited participation in GVCs have contributed to its low economic growth over the past decade -- Although Latin American and Caribbean countries increasingly participate in PTAs, the content and depth of these agreements are uneven --
DTAs present an avenue for promoting trade and boosting GVC integration and upgrading, thus contributing to improved economic performance -- Four areas of deep integration-trade facilitation, regulatory cooperation, services, and state support-are priorities to improve Latin American and Caribbean countries' GVC participation and upgrading -- Notes -- References -- 1 TRADE AND GVC INTEGRATION IN LATIN AMERICA AND THE CARIBBEAN -- Key messages -- Introduction -- Trade integration in Latin America and the Caribbean -- GVC integration in Latin America and the Caribbean --
The main source and destination regions for Latin American and Caribbean trade -- What determines GVC participation? -- Annex 1A: Supplementary figures and tables -- Notes -- References -- 2 DEEP TRADE AGREEMENTS: PROMOTING TRADE AND GVC INTEGRATION -- Key messages -- Introduction -- The rising trend in preferential trade agreements -- Patterns of deep integration in Latin America and the Caribbean -- Economic impact of deep trade agreements in Latin America and the Caribbean -- DTA content and GVC integration in Latin America and the Caribbean -- Annex 2A: Supplementary tables and figures --
Notes -- References -- 3 TRADE FACILITATION: SIMPLIFYING AND HARMONIZING PROCEDURES -- Key messages -- Introduction -- The benefits of trade facilitation -- Regional context -- Trade facilitation through DTAs -- Impact of trade facilitation provisions on GVCs: An econometric analysis -- Implementation challenges and case study -- Conclusion and policy recommendations -- Annex 3A: Supplementary tables -- Annex 3B: Task facilitation provisions in deep trade agreements: Detailed questions -- Notes -- References -- 4 REGULATORY COOPERATION: REDUCING THE TRADE COSTS OF NONTARIFF MEASURES --
Key messages -- Introduction -- SPS and TBT measures: The role of PTAs in promoting regulatory convergence -- Nontariff measures in Latin America and the Caribbean -- SPS and TBT measures in PTAs: Integration patterns in Latin America and the Caribbean -- The impacts on trade and GVCs of integrating SPS and TBT provisions -- Implementing deep regulatory cooperation in selected Latin American and Caribbean PTAs -- Conclusion -- Annex 4A: A classification of nontariff measures -- Annex 4B: SPS and TBT notifications to the World Trade Organization -- Annex 4C: SPS and TBT provisions in PTAs -- Annex 4D: Aggregate impacts on bilateral trade of SPS and TBT provisions in PTAs
Summary The Latin America and Caribbean (LAC) region has untapped potential for trade and global value chains (GVCs) to grow in the wake of COVID-19. The gap between potential and actual GVC integration reflects LAC economic fundamentals such as geography, market size, institutions, and factor endowments. But policy choices matter as well. This report, based on new data and evidence, shows that 'deep' trade agreements can drive policy reforms and help the region overcome some of its disadvantageous fundamentals. Four priority areas of deep integration-- trade facilitation, regulatory cooperation, services, and state support-- can improve the GVC participation of LAC countries: (i) Trade facilitation can reduce border delays and ease problems stemming from the remoteness of LAC countries. (ii) Regulatory cooperation can help LAC countries access larger markets by reducing the costs of nontariff measures. (iii) Opening the service economy can compensate for factor endowment scarcity, facilitating access to skills and technology. (iv) Regulating competition and state support to state-owned enterprises can improve the quality of economic institutions. These reforms are all the more important as global trade tensions persist and economies recover from the COVID-19 pandemic. In these times of uncertainty and upheaval, policy commitments to deep trade agreements can create a more stable institutional environment for promoting the ability of LAC countries to integrate into global value chains
Notes "The study is the outcome of a collaboration between the World Bank Group's Trade and Regional Integration Unit (ETIRI, part of the Equitable Growth, Finance and Institutions Practice Group) and the Latin America and the Caribbean Chief Economist Office (LCRCE)"--Acknowledgments
Bibliography Includes bibliographical references
Notes Description based on resource, viewed October 29, 2022
Subject Foreign trade promotion -- Latin America
Foreign trade promotion -- Caribbean Area
International trade.
Economic history.
Foreign trade promotion.
International trade.
SUBJECT Latin America -- Economic conditions.
Caribbean Area -- Economic conditions.
Subject Caribbean Area.
Latin America.
Form Electronic book
Author Rocha, Nadia, editor.
Ruta, Michele, editor.
World Bank Group. Trade and Regional Integration Unit, issuing body
World Bank. Latin America and the Caribbean Regional Office. Office of the Chief Economist, issuing body.
ISBN 9781464818424