Better Neighbors : Toward a Renewal of Economic Integration in Latin America

March 14, 2017

This book proposes a renewal of 'Open Regionalism' in Latin America and the Caribbean (LAC) aimed at achieving the region's goals of high growth with stability. The LAC region experienced a growth spurt with equity during the first decade of the 21st Century. It is well understood that an unsustainable demand boom fueled by terms-of-trade improvements drove this growth acceleration episode, especially in South America. Unfortunately, terms of trade are no longer fueling growth, and the region’s policymakers are in search of new sources of growth with stability. With the experience of East Asia and the Pacific in mind, many policymakers in LAC are looking to international economic ties as a potential source of stable growth.

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Topics: TARIFF LIBERALIZATION LABOR REGIONAL INTEGRATION INTRA-REGIONAL TRADE

Agreements: NORTH AMERICAN FREE TRADE AGREEMENT (NAFTA) COMMON MARKET OF THE SOUTH (MERCOSUR) TRANS-PACIFIC PARTNERSHIP (TPP) PACIFIC ALLIANCE (PA)

Regions: LATIN AMERICA AND THE CARIBBEAN (LAC)

Authors: DANIEL LEDERMAN SAMUEL PIENKNAGURA RAYMOND ROBERTSON CHAD P. BOWN

Publishing Institution: WORLD BANK GROUP

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