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Understanding the Determinants of Economic Integration in Latin America

Author

Listed:
  • Ramos, Laura Márquez

    (Institute for International Trade- University of Adelaide, Australia)

  • Florensa, Luis Marcelo

    (Instituto de Economía y Finanzas- Universidad Nacional de Córdoba, Argentina)

  • Recalde, María Luisa

    (Instituto de Economía y Finanzas- Universidad Nacional de Córdoba, Argentina)

Abstract

When signing or enhancing trade agreements with Latin America, political and institutional factors play a more important role at present compared with their role in the past. In addition, a better institutional framework increases covered and legally enforceable provisions in Latin America trade agreements. This paper analyzes the determinants of economic integration in Latin America and the institutional quality of signed trade agreements with this region. By focusing on both a discrete choice and a linear framework, the study results prove that economic, geographic, institutional, and political factors influence economic integration. This is because these aspects are key elements in the formation and enhancement of trade agreements both within and outside Latin America. This study considers the role of additional exogenous political facts, such as the September 11 attacks in New York City, and the Revolución Bolivariana, a leftist movement in Venezuela, which affected economic integration in Latin America.

Suggested Citation

  • Ramos, Laura Márquez & Florensa, Luis Marcelo & Recalde, María Luisa, 2017. "Understanding the Determinants of Economic Integration in Latin America," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 32(3), pages 558-585.
    • Handle: RePEc:ris:integr:0720
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    Citations

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    Cited by:

    1. León Padilla & Ángel Rodriguez García-Brazales, 2021. "Can South America form an optimal monetary area? A structural vector autoregression analysis," International Economics and Economic Policy, Springer, vol. 18(2), pages 309-329, May.
    2. Liu, De-Chih & Chang, Yu-Chien, 2022. "Systematic variations in exchange rate returns," International Review of Economics & Finance, Elsevier, vol. 82(C), pages 569-583.
    3. Jámbor, Attila & Török, Áron, 2019. "A regionális kereskedelmi egyezmények létrejöttét meghatározó tényezők [Global drivers of regional trade agreements]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(4), pages 418-433.

    More about this item

    Keywords

    Trade Agreements; Latin America; Institutional and Political Factors; Institutional Quality;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F15 - International Economics - - Trade - - - Economic Integration
    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General

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