Understanding the Determinants of Economic Integration in Latin America

Laura Márquez Ramos, Luis Marcelo Florensa and María Luisa Recalde
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Laura Márquez Ramos: Institute for International Trade- University of Adelaide, Australia
Luis Marcelo Florensa: Instituto de Economía y Finanzas- Universidad Nacional de Córdoba, Argentina
María Luisa Recalde: Instituto de Economía y Finanzas- Universidad Nacional de Córdoba, Argentina

Journal of Economic Integration, 2017, vol. 32, issue 3, 558-585

Abstract:

When signing or enhancing trade agreements with Latin America, political and institutional factors play a more important role at present compared with their role in the past. In addition, a better institutional framework increases covered and legally enforceable provisions in Latin America trade agreements. This paper analyzes the determinants of economic integration in Latin America and the institutional quality of signed trade agreements with this region. By focusing on both a discrete choice and a linear framework, the study results prove that economic, geographic, institutional, and political factors influence economic integration. This is because these aspects are key elements in the formation and enhancement of trade agreements both within and outside Latin America. This study considers the role of additional exogenous political facts, such as the September 11 attacks in New York City, and the Revolución Bolivariana, a leftist movement in Venezuela, which affected economic integration in Latin America.

Keywords: Trade Agreements; Latin America; Institutional and Political Factors; Institutional Quality (search for similar items in EconPapers)
JEL-codes: F14 F15 F50 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:ris:integr:0720

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