51. Latin American Trade Strategy at Century's End
- Author:
- Carol Wise
- Publication Date:
- 06-1999
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- This paper tackles the question of trade strategy and differential economic performance in Latin America, with a focus on the four countries -- Argentina, Brazil, Chile, and Mexico -- most important for the successful completion of a full Western Hemispheric integration scheme. The analysis distinguishes between a “standard” market strategy that assigns the task of economic adjustment to market forces and a “competitive” strategy that more actively employs a range of public policies to facilitate adjustment and correct for instances of market failure. The choices of strategy are explored against the backdrop of international pressures, government-business relations, and institutional reform within the state. Two main conclusions are drawn: first, the competitive strategy strongly correlates with more favorable macro-and microeconomic outcomes and, second, mediocre economic performance under a standard market strategy has undermined the spirit of collective action that will be necessary to forge ahead at the hemispheric level.
- Topic:
- Economics and International Trade and Finance
- Political Geography:
- Brazil, Argentina, Latin America, Mexico, and Chile