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MERCOSUR at Seven: Goals, Achievements, and Outlook

Author

Listed:
  • Goldstein, Andrea

    (Development Centre Organisation de Coopération et de Développement Économiques (OCDE) (Organisation for Economic Co-operation and Development (OECD)))

Abstract

Mercosur has appeared as the most promising regional trade agreement ever since its creation in 1991. This paper compares its objectives with some of its early results, especially increased foreign direct investment and trade volumes — despite some controversial studies suggesting that diversion has outweighed creation — and expansion to other regional members; analyzes other issues where integration is still far from complete (obstacles to the opening of important markets, lack of macroeconomic coordination and common sets of rules in key policy areas, and infrastructure bottlenecks); and sketches the main challenges that lie ahead on the road to realizing Mercosur’s objectives. JEL Classification: F15, O54, P45.

Suggested Citation

  • Goldstein, Andrea, 1998. "MERCOSUR at Seven: Goals, Achievements, and Outlook," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 51(3), pages 349-381.
    • Handle: RePEc:ris:ecoint:0297
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    More about this item

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean
    • P45 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - International Linkages

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