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Does Mercosur's Trade Performance Raise Concerns about the Effects of Regional Trade Arrangements?

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  • Yeats, Alexander J
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    Abstract

    This study employs a new methodological approach that measures production efficiency in changing trade patterns. It shows that the most rapidly growing products in Mercosur's intratrade generally are goods in which members do not have a comparative advantage and have not been able to export competitively to outside markets. This is consistent with substantial trade diversion within the arrangement. Mercosur's discriminatory tariffs against nonmembers, which are four to six times higher than those in arrangements such as the European Union, European Free Trade Area, or North American Free Trade Agreement, are likely the cause. Recent further increases in Mercosur's tariffs against nonmembers are likely to exacerbate the magnitude of trade diversion. Copyright 1998 by Oxford University Press.

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    Bibliographic Info

    Article provided by World Bank Group in its journal World Bank Economic Review.

    Volume (Year): 12 (1998)
    Issue (Month): 1 (January)
    Pages: 1-28

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    Handle: RePEc:oup:wbecrv:v:12:y:1998:i:1:p:1-28

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    Cited by:
    1. Thomas Fullerton & W. Charles Sawyer & Richard Sprinkle, 2011. "Intra-Industry Trade in Latin America and the Caribbean," Working Papers 201103, Texas Christian University, Department of Economics.
    2. Soloaga, Isidro & Alan Wintersb, L., 2001. "Regionalism in the nineties: what effect on trade?," The North American Journal of Economics and Finance, Elsevier, vol. 12(1), pages 1-29, March.
    3. Soloaga, Isidro & Winters, L. Alan, 1999. "How has regionalism in the 1990s affected trade?," Policy Research Working Paper Series 2156, The World Bank.
    4. Felicitas Nowak-Lehmann & Inmaculada Martínez-Zarzoso, 2003. "MERCOSUR-EU trade: The impact of adverse macroeconomic developments and trade barriers on MERCOSUR exports," International Trade 0310002, EconWPA.
    5. Jugurnath, Bhavish & Stewart, Mark & Brooks, Robert, 2007. "Asia/Pacific Regional Trade Agreements: An empirical study," Journal of Asian Economics, Elsevier, vol. 18(6), pages 974-987, December.
    6. Jaime MELO DE, 2005. "Regionalism and Developing Countries: A Primer," Working Papers 200510, CERDI.
    7. Chisik, Richard, 2012. "Trade disputes, quality choice, and economic integration," Journal of International Economics, Elsevier, vol. 88(1), pages 47-61.
    8. Anna Maria Mayda & Chad Steinberg, 2007. "Do South-South Trade Agreements Increase Trade? Commodity-Level Evidence from COMESA," IMF Working Papers 07/40, International Monetary Fund.
    9. Adriana Peluffo, 2011. "Integración regional y difusión de tecnología: el caso uruguayo," Documentos de Trabajo (working papers) 11-10, Instituto de Economía - IECON.
    10. Carrere, Celine, 2006. "Revisiting the effects of regional trade agreements on trade flows with proper specification of the gravity model," European Economic Review, Elsevier, vol. 50(2), pages 223-247, February.
    11. Felicitas Nowak-Lehmann D. & Inmaculada Martínez- Zarzoso, 2004. "Would MERCOSUR´s Exports to the EU Profit from Trade Liberalisation? Some General Insights and a Simulation Study for Argentina," International Trade 0401002, EconWPA.
    12. Fajnzylber, Pablo & Fernandes,Ana Margarida, 2004. "International economic activities and the demand for skilled labor: evidence from Brazil and China," Policy Research Working Paper Series 3426, The World Bank.
    13. Bernard Yvars, 1999. "Les relations commerciales Brésil-Argentine dans l'union douanière imparfaite du Mercosur," Documents de travail 43, Groupe d'Economie du Développement de l'Université Montesquieu Bordeaux IV.
    14. Khadan, Jeetendra & Hosein, Roger, 2014. "Trade, Economic and Welfare impacts of the CARICOM-Canada Free Trade Agreement," MPRA Paper 54836, University Library of Munich, Germany.
    15. Otaviano Canuto & Manu Sharma, 2011. "Asia and South America: A Quasi-Common Economy Approach," World Bank Other Operational Studies 10076, The World Bank.
    16. Inmaculada Martínez-Zarzoso & Felicitas Nowak-Lehmann, 2003. "Augmented Gravity Model: An Empirical Application to Mercosur-European Union Trade Flows," Journal of Applied Economics, Universidad del CEMA, vol. 0, pages 291-316, November.
    17. Lee, Hiro & Roland-Holst, David & van der Mensbrugghe, Dominique, 2004. "China's emergence in East Asia under alternative trading arrangements," Journal of Asian Economics, Elsevier, vol. 15(4), pages 697-712, August.

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