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Trade Agreements and Latin American trade (creation and diversion) and welfare

Ayman El Dahrawy Sánchez-Albornoz () and Jacopo Timini
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Ayman El Dahrawy Sánchez-Albornoz: CEMFI

No 2009, Working Papers from Banco de España

Abstract: This study analyses the process of economic integration in Latin America. Making use of a structural gravity model, this paper provides an ex-post assessment of the effect of the trade agreements (TAs) signed by Latin American countries on international trade. We account for the last wave of TAs proliferation and estimate treaty level effects. On average, TAs had a positive effect on Latin American trade. This holds true for both intra-Latin American agreements and agreements between Latin American countries and the rest of the world. However, we unveil that these average estimates cover a substantial degree of heterogeneity across TAs. Additionally, we quantify ex-ante general equilibrium effects on the trade volumes and welfare of Latin American countries under different scenarios of deeper integration.

Keywords: international trade; trade agreements; Latin America; welfare effects (search for similar items in EconPapers)
JEL-codes: F13 F14 F15 O54 (search for similar items in EconPapers)
Pages: 34 pages
Date: 2020-04
New Economics Papers: this item is included in nep-int and nep-lam
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Journal Article: Trade agreements and Latin American trade (creation and diversion) and welfare (2021) Downloads
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