Has Regionalism Peaked? The Latin American Quagmire and its Lessons

Since 1960, Latin American attempts at regionalism have undergone distinct phases. More notably, they have tended to diverge across space, gradually giving birth to separate blocs that seem to be tearing South, Central and North America apart. Additionally, within and across these regions several overlapping projects coexist. This article focuses on the dynamics of segmented and overlapping regionalism in order to describe what they look like, analyse how they articulate with one another, and explain why member states have pushed for such a messy outcome. This situation, linked to the evolution of the global context, might be indicating that regionalism in Latin America has reached its peak, beyond which it may be difficult to achieve further progress. Two conclusions are elicited: first, economic integration is becoming a geographically diffused phenomenon rather than a regional one; second, regionalism is still a compelling foreign policy but its causes, goals and outcomes are no longer what they used to be.

Has Regionalism Peaked? The Latin American Quagmire and its Lessons

The chapters in this book were originally published in the The International Spectator, volume 47, issue 1 (February 2012).

Feasible multilateralism and the effects of regionalism

Recent research has underlined the efficiency of the GATT/WTO rules from the standpoint of politically motivated governments, emphasizing that the current multilateral rules are capable of delivering a politically efficient equilibrium. Such an equilibrium is, however, economically inef- ficient. Global free trade, in particular, is generally unattainable even in a fully cooperative world, provided that governments have distributive motivations. In such a context, we show that regional trade agreements can help move the world towards a welfare superior equilibrium. The reason is that, as members of regional trade agreements lower trade barriers against one another, they are induced to reduce their multilateral tariffs as well. Once we account for these endogenous changes–and only then–we find that regionalism can raise world welfare even in a fully cooperative (but political) world. We also find, however, that members are likely to gain "too much" from regional integration, thereby harming outsiders.

Open regionalism in Asia Pacific and Latin America: a survey of the literature

Includes bibliography

Bilateralism and regionalism: re-establishing the primacy of multilateralism a Latin American and Caribbean perspective

Includes bibliography

Comparative analysis of regionalism in Latin America and Asia-Pacific

Includes bibliography

Open regionalism and economic integration

Includes bibliography

The new regionalism" and the Free Trade Area of the Americas: a less benevolent view"

Includes bibliography

El regionalismo abierto: América Latina y el Caribe en la economía internacional = Open regionalism: Latin America and the Caribbean in the global economy

Incluye Bibliografía