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Common Market of the South (MERCOSUR)

In: Advancing Regional Monetary Cooperation

Author

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  • Laurissa Mühlich

Abstract

Regional cooperation in Latin America has a long history. Its first formal initiatives date back to 1826, when Venezuelan Simon Bolivar — “Latin America’s Liberator” (cf. Lawrezki, 1981) — initiated the “First Congress of American States” in Panama. At that time, the countries created the world’s first regional confederation (cf. Siegler and Haefs, 1969: 78), only a few years after the last country had gained independence from Spanish colonization. The contract remained a non-binding expression of interest, but still provides the basis for the narrative of regional cooperation on the continent. However, Latin America’s discursive historical legacy of regional cooperation did not stimulate materialization of regional cooperation. Rather — and in particular in the MERCOSUR region — efforts towards closer economic cooperation have been characterized by stagnation and frequent setbacks (Emmes and Mols, 1993: 47).

Suggested Citation

  • Laurissa Mühlich, 2014. "Common Market of the South (MERCOSUR)," Studies in Economic Transition, in: Advancing Regional Monetary Cooperation, chapter 12, pages 196-225, Palgrave Macmillan.
    • Handle: RePEc:pal:stuchp:978-1-137-42721-2_12
    DOI: 10.1057/9781137427212_12
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