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Economic and commercial convergence in Latin America. How are these countries doing so far?

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  • Hurtado Briceño, Alberto José
  • Zerpa de Hurtado, Sadcidi
  • Mora, José U. Mora

Abstract

This paper aims to analyze economic and commercial convergence in the three active integration agreements in the region: Central American Integration System, Southern Common Market, and Pacific Alliance. To this end, we estimated the Economic Convergence Index and correlations among the main macroeconomic aggregates. The empirical evidence reveals that, apart from Venezuela, Latin American countries have a high potential to form a common market. This potential derives more from the dynamics of their economies than from the political blocs or agreements that States want to pursue.

Suggested Citation

  • Hurtado Briceño, Alberto José & Zerpa de Hurtado, Sadcidi & Mora, José U. Mora, 2021. "Economic and commercial convergence in Latin America. How are these countries doing so far?," Structural Change and Economic Dynamics, Elsevier, vol. 57(C), pages 239-250.
    • Handle: RePEc:eee:streco:v:57:y:2021:i:c:p:239-250
    DOI: 10.1016/j.strueco.2021.03.012
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    More about this item

    Keywords

    Economic convergence; Commercial convergence; Regional integration; Sica; Mercosur; Pacific alliance;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations

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