Macroeconomic coordination and commercial integration in MERCOSUR
AbstractCommercial integration in the Mercosur area has increased substantially in the last few years and it is expected to continue to grow rapidly in the near future. However, given the historical record of policy management in the region, especially in Brazil and Argentina, the main partners of this integration initiative, it is not clear whether macroeconomic policies will provide the required conditions of sustainability for such a rapid trade expansion. This paper discusses the relationship between macroeconomic coordination and commercial integration in the context of Mercosur. After examining the impact of policy instability on trade flows within the region in recent years, it evaluates the prospects for closer coordination of macroeconomic policies in the future.
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Bibliographic InfoPaper provided by Department of Economics PUC-Rio (Brazil) in its series Textos para discussão with number 378.
Length: 25 pages
Date of creation: Oct 1997
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Find related papers by JEL classification:
- F15 - International Economics - - Trade - - - Economic Integration
- F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
- F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
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