Regional integration and macroeconomic coordination in Latin America

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cepal.bibLevelSección o Parte de un Documento
cepal.callNumberX/C 22(82/2004)
cepal.docTypeRevistas
cepal.idSade20904
cepal.topicEngVALUE CHAINS
cepal.topicEngINTERNATIONAL TRADE
cepal.topicEngSTRUCTURAL HETEROGENEITY
cepal.topicEngTERMS OF TRADE
cepal.topicEngREGIONAL INTEGRATION
cepal.topicSpaCADENAS DE VALOR
cepal.topicSpaCOMERCIO INTERNACIONAL
cepal.topicSpaHETEROGENEIDAD ESTRUCTURAL
cepal.topicSpaTÉRMINOS DE INTERCAMBIO
cepal.topicSpaINTEGRACIÓN REGIONAL
cepal.workareaEngINTERNATIONAL TRADE AND INTEGRATION
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaEngNATURAL RESOURCES
cepal.workareaSpaCOMERCIO INTERNACIONAL E INTEGRACIÓN
cepal.workareaSpaDESARROLLO ECONÓMICO
cepal.workareaSpaRECURSOS NATURALES
dc.contributor.authorEscaith, Hubert
dc.coverage.spatialEngLATIN AMERICA AND THE CARIBBEAN
dc.coverage.spatialSpaAMERICA LATINA Y EL CARIBE
dc.date.accessioned2014-01-02T18:43:45Z
dc.date.available2014-01-02T18:43:45Z
dc.date.issued2004-04
dc.descriptionIncludes bibliography
dc.description.abstract The contagion aspects of the financial and exchange-rate crises in recent years demonstrate the need to extend the domain of macroeconomic policy from the national dimension to the regional one. This paper presents the main concepts and challenges behind macroeconomic policy cooperation in Latin America and the Caribbean and evaluates them from a game-theory perspective. Under certain conditions related to the debate on optimal currency areas, entering into a cooperative dynamic will be beneficial for all participants. Moreover, it is shown that because the welfare gains from regional cooperation are endogenous, cooperation will eventually become stable, even in the presence of a Prisoner's Dilemma. Albeit promising at the subregional level, however, the initial conditions observed in Latin America are still far from the conditions of self-sustained dynamics. At the initial stage of coordination, cooperation is unstable, and a formal institutional setting is needed to start and coordinate the cooperative process. In addition, more traditional policies of trade integration should be pursued.
dc.formatTexto
dc.format.extentpáginas. 55-73
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/G.2220-P
dc.identifier.urihttps://hdl.handle.net/11362/11010
dc.language.isoeng
dc.physicalDescriptionp. 55-73
dc.relation.isPartOfCEPAL Review
dc.relation.isPartOfNo82
dc.relation.isPartOfSeriesCEPAL Review
dc.subject.unbisEngECONOMIC COOPERATION
dc.subject.unbisEngECONOMIC INTEGRATION
dc.subject.unbisEngECONOMIC POLICY
dc.subject.unbisEngINTRAREGIONAL TRADE
dc.subject.unbisEngTERMS OF TRADE
dc.subject.unbisEngVALUE CHAINS
dc.subject.unbisSpaCOMERCIO INTRARREGIONAL
dc.subject.unbisSpaCOOPERACION ECONOMICA
dc.subject.unbisSpaINTEGRACION ECONOMICA
dc.subject.unbisSpaPOLITICA ECONOMICA
dc.subject.unbisSpaRELACION DE INTERCAMBIO
dc.subject.unbisSpaCADENAS DE VALOR
dc.titleRegional integration and macroeconomic coordination in Latin America
dc.type.coarartículo
dspace.entity.typePublication
relation.isAuthorOfPublication2d3a05af-e757-44e7-806c-4be8c1a0c087
relation.isAuthorOfPublication.latestForDiscovery2d3a05af-e757-44e7-806c-4be8c1a0c087
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