Trade Integration as a Pathway to Development?

¿La integración comercial como un camino al desarrollo?

World Bank
Authors registered in the RePEc Author Service: Elena Ivanova Ianchovichina

No 32518, World Bank Publications - Reports from The World Bank Group

Abstract: After a period of rapid economic growth associated with high commodity prices, the Latin America and Caribbean region has again entered a phase of lackluster performance. Overall this slowdown seems more self-inflicted than imported, and the outlook for the region is not encouraging either. A tepid export response constrains the prospect of growing through external demand whereas limited fiscal space leaves little room to stimulate domestic demand. The outlook could deteriorate further if the international environment became less conducive. This report explores whether inward-looking development strategies could be one of the reasons for slow growth in Latin America and the Caribbean. Trade barriers are higher than in other developing regions, and while numerous preferential trade agreements have been signed, many of them are intra-regional. The report shows that South-North agreements are associated with increases in economic complexity and faster economic growth than South-South agreements. It illustrates the point by assessing the economic, social, spatial and environmental impacts of two major: South-North agreements signed over the last year.

Keywords: International; Economics; and; Trade-Trade; and; Regional; Integration; Macroeconomics; and; Economic; Growth-Business; Cycles; and; Stabilization; Policies; Macroeconomics; and; Economic; Growth-Economic; Forecasting; Macroeconomics; and; Economic; Growth-Economic; Growth; Macroeconomics; and; Economic; Growth-Fiscal; &; Monetary; Policy; Macroeconomics; and; Economic; Growth-Macroeconomic; Management (search for similar items in EconPapers)
Date: 2019
Note: ISBN 978-1-4648-1516-4
References: Add references at CitEc
Citations: View citations in EconPapers (6)

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