Better Neighbors

Chad Bown, Daniel Lederman, Samuel Pienknagura and Raymond Robertson

No 25736 in World Bank Publications - Books from The World Bank Group

Abstract: This book proposes a renewal of 'Open Regionalism' in Latin America and the Caribbean (LAC) aimed at achieving the region's goals of high growth with stability. The LAC region experienced a growth spurt with equity during the first decade of the 21st Century. It is well understood that an unsustainable demand boom fueled by terms-of-trade improvements drove this growth acceleration episode, especially in South America. Unfortunately, terms of trade are no longer fueling growth, and the region’s policymakers are in search of new sources of growth with stability. With the experience of East Asia and the Pacific in mind, many policymakers in LAC are looking to international economic ties as a potential source of stable growth. The challenge highlighted in this book lies in designing an integration agenda comprising trade and factor market integration that is conducive to region-wide efficiency gains, which can help LAC enhance its global competitiveness. The forces of geography imply that pro-growth global integration cannot be achieved without building a strong neighborhood. Thus, this volume argues that LAC's regional economic integration agenda needs to go well beyond the current spaghetti bowl of preferential trading arrangements.

Keywords: International; Economics; and; Trade-Trade; and; Regional; Integration; Industry-Industrial; Economics; International; Economics; and; Trade-Export; Competitiveness; International; Economics; and; Trade-Trade; and; Multilateral; Issues; Macroeconomics; and; Economic; Growth-Economic; Conditions; and; Volatility (search for similar items in EconPapers)
Date: 2017
ISBN: 978-1-4648-0977-4
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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