Congresos y reuniones científicas
Assessing the Evolution of Economic Integration in Latin America: Is MERCOSUR Passé?
Conferencia; XV Conference on International Economics; 2014
Institución organizadora:
Asociación Española de Economía y Finanzas Internacionales, y Univesidad de Salamanca
This paper briefly describes the trade dynamism of the four founding members of the Southern Common Market (MERCOSUR) during 1991-2012. The trade openness ratio, the intraregional trade index and the Herfindahl-Hirschmann index show that the countries reached higher levels of openness during 2002-2012, the intraregional trade was more intense in the first decade than in the second, and the diversification of exports by country of destination has increased since 2001. The assessment is completed with the exploration of the determinants of tariff and non-tariff barriers. The use of pre and post 2008-crisis trade and protection data reveals that discriminatory measures implemented by Argentina and Brazil do not provide a better treatment for their MERCOSUR partners, but quite the opposite. To preview the paper's conclusion: MERCOSUR is not passé, but it has somewhat shifted from its optimum path to success.