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Central America; Global Integration and Regional Cooperation

Author

Listed:
  • Markus Rodlauer
  • Alfred Schipke

Abstract

Central America has received growing attention as a region that is integrating successfully into the global economy. This paper examines—among other things—the macroeconomic and fiscal implications of the Free Trade Agreement with the United States (CAFTA-DR), noting that the agreement will provide a boost to the integration process. To maximize the benefits in terms of faster sustainable growth, poverty reduction, and social progress, however, the region also needs to press ahead with ambitious structural reforms to entrench macroeconomic stability and ensure an attractive environment for investment, while stepping up regional cooperation in the areas of taxes and tax administration, financial systems, and statistics.

Suggested Citation

  • Markus Rodlauer & Alfred Schipke, 2005. "Central America; Global Integration and Regional Cooperation," IMF Occasional Papers 243, International Monetary Fund.
  • Handle: RePEc:imf:imfocp:243
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    Citations

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    Cited by:

    1. Sebastian Sosa & Paul Cashin, 2009. "Macroeconomic Fluctuations in the Caribbean; The Role of Climatic and External Shocks," IMF Working Papers 09/159, International Monetary Fund.
    2. Carlos Eduardo Castillo-Maldonado & Fidel Pérez-Macal, 2013. "Assessment of models to forecast exchange rates: The quetzal–U.S. dollar exchange rate," Journal of Applied Economics, Universidad del CEMA, vol. 16, pages 71-99, May.
    3. Monica Hernandez, 2017. "An Unintended Consequence of Uncoordinated International Monetary Policy on Central America," Working Papers 1728, New School for Social Research, Department of Economics.
    4. Juan Carlos Moreno Brid & Esteban Pérez Caldentey, 2010. "Trade and Economic Growth: A Latin American Perspective on Rhetoric and Reality," Chapters,in: Handbook of Alternative Theories of Economic Growth, chapter 20 Edward Elgar Publishing.
    5. Jaka Sriyana & Abdul Hakim, 2017. "Balance Sheet Approach for Fiscal Sustainability in Indonesia," International Journal of Economics and Financial Issues, Econjournals, vol. 7(1), pages 68-72.
    6. Jean-François Hoarau, 2008. "Testing PPP for Central American real exchange rates. Evidence from new panel data stationary tests with structural breaks," Economics Bulletin, AccessEcon, vol. 6(21), pages 1-5.
    7. Rodrigo Caputo G. & Igal Magendzo, 2009. "Do Exchange Rate Regimes Matter For Inflation And Exchange Rate Dynamics? The Case Of Central America," Working Papers Central Bank of Chile 517, Central Bank of Chile.
    8. Claudia Dziobek & Florina Tanase, 2008. "Institutional arrangements for producing macroeconomic statistics in countries subscribing to the Special Data Dissemination Standard (SDDS)," IFC Bulletins chapters,in: Bank for International Settlements (ed.), The IFC's contribution to the 56th ISI Session, Lisbon, August 2007, volume 28, pages 323-326 Bank for International Settlements.
    9. Carlos Felipe Jaramillo & Daniel Lederman & Maurizio Bussolo & David Gould & Andrew Mason, 2006. "Challenges of CAFTA : Maximizing the Benefits for Central America," World Bank Publications, The World Bank, number 7127.
    10. Gnutzmann, Hinnerk; Gnutzmann-Mkrtchyan, Arevik, 2016. "The Silent Success of Customs Unions," Economics Working Papers ECO2016/02, European University Institute.
    11. Hinnerk Gnutzmann & Arevik Gnutzmann-Mkrtchyan, 2016. "The Silent Success of Customs Unions," CESifo Working Paper Series 5944, CESifo Group Munich.
    12. Hui, Hon Chung, 2013. "Fiscal sustainability in Malaysia: a re-examination," MPRA Paper 80018, University Library of Munich, Germany.
    13. Luis Jácome & Eric Parrado, 2006. "The Quest for Price Stability in Central America and the Dominican Republic," Working Papers Central Bank of Chile 390, Central Bank of Chile.
    14. Bank for International Settlements, 2007. "Evolving banking systems in Latin America and the Caribbean: challenges and implications for monetary policy and financial stability," BIS Papers, Bank for International Settlements, number 33.
    15. Tugores, Juan, 2008. "Regional integration and public policy. Evaluation of the European experience and possible implications for Latin American integration," Estudios y Perspectivas – Sede Subregional de la CEPAL en México 65, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    16. Abalkina, Anna, 2006. "Роль Многосторонних Банков Развития В Содействии Экономической Интеграции
      [The Role of Multilateral Development Banks in Promoting Economic Integration]
      ," MPRA Paper 49967, University Library of Munich, Germany, revised 2006.

    More about this item

    Keywords

    Tax administration; Statistics; exchange rate; exchange rate regimes; exchange rate regime; free trade; trade diversion;

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