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Scenarios for Trade Integration in the Americas

Author

Listed:
  • Xinshen Diao
  • Eugenio Díaz-Bonilla
  • Sherman Robinson

Abstract

This paper analyzes two potential trade liberalization scenarios: a Free Trade Area of the Americas (FTAA) and an agreement between MERCOSUR and the European Union (EU). The paper utilizes a world general equilibrium model with some macro elements such as rigidities in wages and exchange rates. The empirical results show that the two regional integration scenarios create trade and increase welfare for the participants (more for the Latin American countries than for either the US or the EU) with little impact on non-participants.

Suggested Citation

  • Xinshen Diao & Eugenio Díaz-Bonilla & Sherman Robinson, 2003. "Scenarios for Trade Integration in the Americas," Economie Internationale, CEPII research center, issue 94-95, pages 33-51.
  • Handle: RePEc:cii:cepiei:2003-2q-3qb
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    File URL: http://www.cepii.fr/IE/rev9495/rev9495b.htm
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    References listed on IDEAS

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    1. Lewis, Jeffrey D. & Robinson, Sherman & Wang, Zhi, 1995. "Beyond the Uruguay Round: The implications of an Asian free trade area," China Economic Review, Elsevier, vol. 6(1), pages 35-90.
    2. Robinson, Sherman & Thierfelder, Karen, 2002. "Trade liberalisation and regional integration: the search for large numbers," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 46(4), December.
    3. Diaz-Bonilla, Eugenio & Thomas, Marcelle & Robinson, Sherman & Cattaneo, Andrea, 2000. "Food security and trade negotiations in the World Trade Organization," TMD discussion papers 59, International Food Policy Research Institute (IFPRI).
    4. Robinson, Sherman, 1991. "Macroeconomics, financial variables, and computable general equilibrium models," World Development, Elsevier, vol. 19(11), pages 1509-1525, November.
    5. Mary E. Burfisher & Sherman Robinson & Karen Thierfelder, 2001. "The Impact of NAFTA on the United States," Journal of Economic Perspectives, American Economic Association, vol. 15(1), pages 125-144, Winter.
    6. Hinojosa-Ojeda, Raul A. & Robinson, Sherman & Lewis, Jeffrey D., 1995. "Regional integration options for Central America and the Caribbean after NAFTA," The North American Journal of Economics and Finance, Elsevier, vol. 6(2), pages 121-148.
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    Citations

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    Cited by:

    1. Ludena, Carlos E. & Wong, Sara, 2006. "Domestic Support Policies for Agriculture in Ecuador and the U.S.-Andean Countries Free Trade Agreement: An Applied General Equilibrium Assessment," 2006 Annual meeting, July 23-26, Long Beach, CA 21349, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Argüello C., Ricardo & Valenzuela, Ernesto, 2006. "Market access in the Western Hemisphere: implications for the Andean Community," PERFIL DE COYUNTURA ECONÓMICA, UNIVERSIDAD DE ANTIOQUIA - CIE, July.
    3. De Miguel, Carlos J. & Durán Lima, José Elías & Schuschny, Andrés Ricardo, 2007. "Trade agreements by Colombia, Ecuador and Peru with the United States: effects on trade, production and welfare," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), April.
    4. Diao, Xinshen & Diaz-Bonilla, Eugenio & Robinson, Sherman & Orden, David, 2005. "Tell me where it hurts, an' I'll tell you who to call," MTID discussion papers 84, International Food Policy Research Institute (IFPRI).
    5. Alexander Schejtman & Julio A. Berdegué, 2006. "El Impacto Social de la Integración Regional en América Latina Rural," IDB Publications (Working Papers) 2327, Inter-American Development Bank.
    6. Morley, Samuel & Piñeiro, Valeria, 2004. "The effect of WTO and FTAA on agriculture and the rural sector in Latin America," DSGD discussion papers 3, International Food Policy Research Institute (IFPRI).
    7. Teteryatnikova, Mariya, 2008. "R&D in the network of international trade: Multilateral versus regional trade agreements," WTO Staff Working Papers ERSD-2009-03, World Trade Organization (WTO), Economic Research and Statistics Division.
    8. Alexander Schejtman & Julio A. Berdegué, 2006. "El Impacto Social de la Integración Regional en América Latina Rural," IDB Publications (Working Papers) 9125, Inter-American Development Bank.
    9. Turner, James A. & Buongiorno, Joseph & Zhu, Shushuai, 2005. "Effects of the Free Trade Area of the Americas on Forest Resources," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 34(1), April.
    10. Philippidis, G. & Resano, H. & Sanjuán, A.I., 2014. "Shifting Armington trade preferences: A re-examination of the Mercosur–EU negotiations," Economic Modelling, Elsevier, vol. 40(C), pages 21-32.
    11. Pavel Neumann, 2008. "Fragmentation versus Unity of the World Economy," Acta Oeconomica Pragensia, University of Economics, Prague, vol. 2008(2), pages 70-89.

    More about this item

    Keywords

    Trade; Regional Integration; General Equilibrium Models; Developing Countries;

    JEL classification:

    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling
    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
    • F1 - International Economics - - Trade

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