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The publication reviews the present status and future prospects between the United States and the Latin American and Caribbean region. It examines the trade-policy making environment in the United States, and reviews pending and potential initiatives that might directly or indirectly affect the trade interest of the region. The study draws attention to four points: a relatively low priority of the current US administration to trade policy, consequences that may arise due to lack of importance, unaddressed agreements and programmes from the previous US administration, and the pressing need for the current administration to announce its objectives and timetable on the Doha Development Agenda (DDA) and the Trade Promotion Authority (TPA).
Analyzing the experience of Mexico under the North American Free Trade Agreement (NAFTA), 'Lessons from NAFTA' aims to provide guidance to Latin American and Caribbean countries considering free trade agreements with the United States. The authors conclude that the treaty raised external trade and foreign investment inflows and had a modest effect on Mexico's average income per person. It is likely that the treaty also helped achieve a modest reduction in poverty and an improvement in job quality. This book will be of interest to scholars and policymakers interested in international trade and development.
Latin American and Caribbean Trade Agreements: Keys to a Prosperous Community of the Americas is the essential reference guide for companies trading with Latin America and the Caribbean or wishing to use a country in the region as an export platform. This work fills the void in academic texts that are used to teach courses on economic integration in the Western Hemisphere. It provides a road map for the Obama Administration to launch an ambitious project designed to encourage economic growth, promote energy security, and reduce harmful greenhouse gas emissions, while at the same time realistically meeting the development needs of Latin America and the Caribbean. Latin American and Caribbean Trade Agreements: Keys to a Prosperous Community of the Americas posits that the myopic focus of past United States administrations on free markets to spur economic development in the Western Hemisphere is not enough. A bolder and more ambitious project that also seeks to redress many of the deep-seated problems that have long plagued the region is required. The Community of the Americas proposed in this book rests upon the important work that has already been done at the sub-regional level in terms of economic and political reform, identifying infrastructure and human capital needs, and regulating migration. It provides a new and cohesive vision for U.S. policy in Latin America and the Caribbean.
To better understand the likely impacts for Latin America and the Caribbean of developments in global trade, we modeled a set of four scenarios to see how escalating trade tensions would affect the region’s economies and the potential for a regional response to mitigate possible negative impacts. This article reviews the results of that modeling exercise.
Thirty years after the region embarked on large-scale liberalization, trade policy could have been expected to become all but irrelevant. Instead, a mismatch between expectations and what could realistically be delivered set the stage for much of the disappointment, skepticism, and fatigue regarding trade policy in the region, particularly in the early 2000s. By setting the bar unrealistically high, governments and analysts made trade policies an easy target for special interests that were hurt by liberalization and for those ideologically opposed to free trade. The most immediate victims were the more tangible growth and welfare gains, whose relevance was lost amid the noise of grandiose visions.
This book analyses the development challenge faced by Latin America at a time at which the concerns for the large inequality in the region are at a peak. This volume focuses on growth-with-equity, and is written by an outstanding group of Latin American and international researchers and policy-makers.
In every generation the United States has been drawn into the Latin American whirlpool, where it becomes obsessed with small nations like Nicaragua and defiant dictators like Manuel Noriega. Then, just as suddenly, we are released and forget the region. Has the end of the Cold War liberated the United States from the whirlpool of recurring interventions in Latin American politics? To answer this question, Robert Pastor draws on more than fifteen years of formulating and writing about U.S. foreign policy toward Latin America and the Caribbean. In this timely book, he maintains that the collapse of communism is less important in permitting the United States to escape the whirlpool than are the new trends of democracy and freer trade in the region. After a personal reminiscence of the Panamanian leader Omar Torrijos and his lessons for inter-American relations, Pastor provides an overview of U.S. Latin American policy under Presidents Carter, Reagan, and Bush and an analysis of the distinctive role played by Congress. Next he looks at the recurring challenges faced by the United States in this century - how it has tried but often failed to manage succession crises, stop revolutionaries, promote elections, and encourage development in the region. Finally, Pastor offers a series of far-reaching policy recommendations based partly on a redefinition of sovereignty. In the post-Cold War era, the United States still needs to cut the Gordian security knot that connects instability, intervention, and massive refugee flow and, at times, drugs and terrorism. To solve these problems and exit the whirlpool, Washington should renounce unilateral intervention and take the lead in establishing a new system to collectively defend democracy and forge a freer trade area. This new hemispheric democratic community would also give the United States an advantage in the economic competition against Japan and Germany, and it could serve as a model for a new relationship between the rich and poor nations of the world.
Contents: (1) U.S. Preferential Trade Programs and the Caribbean Region: Background: Early Trade Preference Programs; Caribbean Basin (CB) Econ. Recovery Act of 1983: Special Access Program; CB Econ. Recovery Expansion Act of 1990; CB Trade Partnership Act and NAFTA Parity; CAFTA-DR and New Parity Issues; HOPE Act: New Trade Preferences for Haiti; (2) Trade Effects of Tariff Preferences; Imports by Duty: Effects of CBTPA: 2000-06; Effects of CAFTA-DR: 2006-08; Product Trends; Country Trends; (3) Trade Preference Programs: Econ. Perspectives; (4) U.S.-CB Trade Relations: Policy Options; Allow Trade Preference Programs to Expire; Reform Trade Preference Programs; Negotiate a Reciprocal FTA; (5) Outlook.
The vision of a hemispheric system of free trade charts a bold new course for U.S--Latin American relations that promises to transform the economic and political landscape of the hemisphere well into the next century. In "The Premise and the Promise, "analysts from the United States, Latin America, and Canada explore the dynamics of the process under way in the Americas today, what features free trade ought to have, how the process of regional integration should proceed, and how the regional architecture should be related to the international trading system. Mexico's decision to seek a free trade agreement with the United States and Washington's announcement of the Enterprise for the Americas Initiative turned the incipient integrationist revival of the mid-1980s in Latin America into a seemingly unstoppable force. If regionalism is to be a benign force, however, it must overcome the impulse toward closed, exclusionary arrangements and emulate the best features of the multilateral approach: a regional arrangement should be flexible enough to accommodate vast regional diversity, inclusive enough to allow all countries in the region to participate, and efficient enough not to impose unduly large costs on those excluded from the arrangement. The contents include: Sylvia Saborio, "Overview: The Long and Winding Road from Anchorage to Patagonia," Peter Morici, "American Free Trade: A U.S. Perspective," Jos" Salazar and Eduardo Lizano, "Free Trade hi the Americas: A Latin American Perspective," Richard Lipsey, "Getting There: A Canadian View on WHFTA's Structure," and Refik Erzan and Alexander Yeats, "Empirical Evidence on the Impact of Free Trade Agreements with the United States on Latin America." In six separate chapters, analysts weigh the costs and benefits of subregional free trade agreements between the United States and Mexico, Chile, Central America, Caricom, the Andean Pact, and Mercosur.
Globalization and Development draws upon the experiences of the Latin American and Caribbean region to provide a multidimensional assessment of the globalization process from the perspective of developing countries. Based on a study by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC), this book gives a historical overview of economic development in the region and presents both an economic and noneconomic agenda that addresses disparity, respects diversity, and fosters complementarity among regional, national, and international institutions. For orders originating outside of North America, please visit the World Bank website for a list of distributors and geographic discounts at http://publications.worldbank.org/howtoorder or e-mail [email protected].