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Easing trade costs within Mercosul

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  • Reiss, Daniel G

Abstract

Abstract The paper describes the joint policy of Brazil and Argentina regarding the currency use in bilateral trade. The Local Currency Payment System (SML) framework is investigated as an instrument of reducing trade costs by providing new financial integration mechanisms and its implications according to usual trade issues debate. We cut across different issues related to the SML rationale. Additionally, we describe and analyze the data available for the system showing that the SML use is more common to Brazilian exports than to Argentine ones.

Suggested Citation

  • Reiss, Daniel G, 2012. "Easing trade costs within Mercosul," MPRA Paper 42174, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:42174
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    File URL: https://mpra.ub.uni-muenchen.de/42174/1/MPRA_paper_42174.pdf
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    References listed on IDEAS

    as
    1. Marc Flandreau & Clemens Jobst, 2009. "The Empirics of International Currencies: Network Externalities, History and Persistence," Economic Journal, Royal Economic Society, vol. 119(537), pages 643-664, April.
    2. Bhagwati, Jagdish, 2008. "Termites in the Trading System: How Preferential Agreements Undermine Free Trade," OUP Catalogue, Oxford University Press, number 9780195331653.
    3. Friberg, Richard & Wilander, Fredrik, 2008. "The currency denomination of exports -- A questionnaire study," Journal of International Economics, Elsevier, vol. 75(1), pages 54-69, May.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    international trade; Mercosul; cost reduction; payment system;

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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