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Mercosur's Labyrinth and World Regionalism

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  • Julio Nogués

Abstract

Regional trade agreements are more likely to produce negative effects on nonmembers the larger and the more protected they are. Because MERCOSUR countries are efficient producers of the most protected products in the world –agricultural and agro-industrial products-, these countries suffer particularly from other countries regional agreements. Finally, these costs are likely to increase with the number of regional agreements in which they are not members. The arguments and estimates presented in this paper support these assertions.
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Suggested Citation

  • Julio Nogués, 2003. "Mercosur's Labyrinth and World Regionalism," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 40(121), pages 452-459.
    • Handle: RePEc:ioe:cuadec:v:40:y:2003:i:121:p:452-459
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    References listed on IDEAS

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    1. Tamim Bayoumi & Barry Eichengreen, 1997. "Is Regionalism Simply a Diversion? Evidence from the Evolution of the EC and EFTA," NBER Chapters, in: Regionalism versus Multilateral Trade Arrangements, pages 141-168, National Bureau of Economic Research, Inc.
    2. Antoni Estevadeordal & Robert Devlin, 2001. "¿Qué hay de Nuevo en el Nuevo Regionalismo en las Américas?," IDB Publications (Working Papers) 9368, Inter-American Development Bank.
    3. Gupta, Anju & Schiff, Maurice, 1997. "Outsiders and regional trade agreements among small countries : the case of regional markets," Policy Research Working Paper Series 1847, The World Bank.
    4. Takatoshi Ito & Anne O. Krueger, 1997. "Regionalism versus Multilateral Trade Arrangements," NBER Books, National Bureau of Economic Research, Inc, number ito_97-1, March.
    5. Goto, Junichi, 1997. "Regional economic integration and agricultural trade," Policy Research Working Paper Series 1805, The World Bank.
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    JEL classification:

    • F1 - International Economics - - Trade
    • F2 - International Economics - - International Factor Movements and International Business

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