Common Market of the South (MERCOSUR)

Laurissa Mühlich

Chapter 12 in Advancing Regional Monetary Cooperation, 2014, pp 196-225 from Palgrave Macmillan

Abstract: Abstract Regional cooperation in Latin America has a long history. Its first formal initiatives date back to 1826, when Venezuelan Simon Bolivar — “Latin America’s Liberator” (cf. Lawrezki, 1981) — initiated the “First Congress of American States” in Panama. At that time, the countries created the world’s first regional confederation (cf. Siegler and Haefs, 1969: 78), only a few years after the last country had gained independence from Spanish colonization. The contract remained a non-binding expression of interest, but still provides the basis for the narrative of regional cooperation on the continent. However, Latin America’s discursive historical legacy of regional cooperation did not stimulate materialization of regional cooperation. Rather — and in particular in the MERCOSUR region — efforts towards closer economic cooperation have been characterized by stagnation and frequent setbacks (Emmes and Mols, 1993: 47).

Keywords: Exchange Rate; Member Country; Global Financial Crisis; Regional Cooperation; Nominal Exchange Rate (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:stuchp:978-1-137-42721-2_12

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DOI: 10.1057/9781137427212_12

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