Trade Integration as a Pathway to Development?
After a period of rapid economic growth associated with high commodity prices, the Latin America and Caribbean region has again entered a phase of lackluster performance. Overall this slowdown seems more self-inflicted than imported, and the outlook for the region is not encouraging either. A tepid export response constrains the prospect of growing through external demand whereas limited fiscal space leaves little room to stimulate domestic demand. The outlook could deteriorate further if the international environment became less conducive. This report explores whether inward-looking development strategies could be one of the reasons for slow growth in Latin America and the Caribbean. Trade barriers are higher than in other developing regions, and while numerous preferential trade agreements have been signed, many of them are intra-regional. The report shows that South-North agreements are associated with increases in economic complexity and faster economic growth than South-South agreements. It illustrates the point by assessing the economic, social, spatial and environmental impacts of two major: South-North agreements signed over the last year.
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Format: | Serial biblioteca |
Language: | English |
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Washington, DC: World Bank
2019-10-10
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Subjects: | GROWTH, HOUSEHOLD INCOME INEQUALITY, LABOR FORCE PARTICIPATION, LABOR INCOME INEQUALITY, LATIN AMERICA, SLOWDOWN, ELASTICITY, INEQUALITY, TERMS OF TRADE, UNEMPLOYMENT, TRADE, MONETARY POLICY, TERMS OF TRADE SHOCK, CAPITAL FLIGHT, |
Online Access: | http://documents.worldbank.org/curated/en/507421570778369240/Trade-Integration-as-a-Pathway-to-Development https://hdl.handle.net/10986/32518 |
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dig-okr-10986325182024-07-25T16:03:06Z Trade Integration as a Pathway to Development? ¿La integración comercial como un camino al desarrollo? World Bank GROWTH HOUSEHOLD INCOME INEQUALITY LABOR FORCE PARTICIPATION LABOR INCOME INEQUALITY LATIN AMERICA SLOWDOWN ELASTICITY INEQUALITY TERMS OF TRADE UNEMPLOYMENT TRADE MONETARY POLICY TERMS OF TRADE SHOCK CAPITAL FLIGHT After a period of rapid economic growth associated with high commodity prices, the Latin America and Caribbean region has again entered a phase of lackluster performance. Overall this slowdown seems more self-inflicted than imported, and the outlook for the region is not encouraging either. A tepid export response constrains the prospect of growing through external demand whereas limited fiscal space leaves little room to stimulate domestic demand. The outlook could deteriorate further if the international environment became less conducive. This report explores whether inward-looking development strategies could be one of the reasons for slow growth in Latin America and the Caribbean. Trade barriers are higher than in other developing regions, and while numerous preferential trade agreements have been signed, many of them are intra-regional. The report shows that South-North agreements are associated with increases in economic complexity and faster economic growth than South-South agreements. It illustrates the point by assessing the economic, social, spatial and environmental impacts of two major: South-North agreements signed over the last year. Luego de un período de crecimiento económico rápido, asociado con precios altos de las materias primas, la región de América Latina y el Caribe ha entrado en una etapa de deslucido desempeño. Este enlentecimiento económico parece tener causas domésticas más que externas. Una tibia respuesta de las exportaciones restringe la posibilidad de crecer a través de demanda externa mientras que un espacio fiscal limitado deja poco lugar para estímulos de la demanda doméstica. Este informe analiza si el tipo de inserción comercial de los países de América Latina y el Caribe podría ser una de las razones del lento crecimiento económico. Las barreras comerciales son más altas que en otras regiones en desarrollo, y, aunque se han firmado numerosos acuerdos comerciales preferenciales, muchos de ellos son intrarregionales. El informe muestra que los acuerdos de tipo Sur-Norte dan lugar a una mayor complejidad económica y a un crecimiento económico más rápido que los acuerdos Sur-Sur. Este resultado es ilustrado a través de un análisis de los efectos económicos, sociales, territoriales y ambientales de dos importantes acuerdos Sur-Norte firmados en el último año. 2019-10-09T20:41:30Z 2019-10-09T20:41:30Z 2019-10-10 Serial Sériel Serial http://documents.worldbank.org/curated/en/507421570778369240/Trade-Integration-as-a-Pathway-to-Development 978-1-4648-1516-4 https://hdl.handle.net/10986/32518 English LAC Semiannual Report; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank application/pdf application/pdf Washington, DC: World Bank |
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GROWTH HOUSEHOLD INCOME INEQUALITY LABOR FORCE PARTICIPATION LABOR INCOME INEQUALITY LATIN AMERICA SLOWDOWN ELASTICITY INEQUALITY TERMS OF TRADE UNEMPLOYMENT TRADE MONETARY POLICY TERMS OF TRADE SHOCK CAPITAL FLIGHT GROWTH HOUSEHOLD INCOME INEQUALITY LABOR FORCE PARTICIPATION LABOR INCOME INEQUALITY LATIN AMERICA SLOWDOWN ELASTICITY INEQUALITY TERMS OF TRADE UNEMPLOYMENT TRADE MONETARY POLICY TERMS OF TRADE SHOCK CAPITAL FLIGHT |
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GROWTH HOUSEHOLD INCOME INEQUALITY LABOR FORCE PARTICIPATION LABOR INCOME INEQUALITY LATIN AMERICA SLOWDOWN ELASTICITY INEQUALITY TERMS OF TRADE UNEMPLOYMENT TRADE MONETARY POLICY TERMS OF TRADE SHOCK CAPITAL FLIGHT GROWTH HOUSEHOLD INCOME INEQUALITY LABOR FORCE PARTICIPATION LABOR INCOME INEQUALITY LATIN AMERICA SLOWDOWN ELASTICITY INEQUALITY TERMS OF TRADE UNEMPLOYMENT TRADE MONETARY POLICY TERMS OF TRADE SHOCK CAPITAL FLIGHT World Bank Trade Integration as a Pathway to Development? |
description |
After a period of rapid economic growth associated with high commodity prices, the Latin America and
Caribbean region has again entered a phase of lackluster performance. Overall this slowdown seems more
self-inflicted than imported, and the outlook for the region is not encouraging either. A tepid export
response constrains the prospect of growing through external demand whereas limited fiscal space leaves
little room to stimulate domestic demand. The outlook could deteriorate further if the international
environment became less conducive.
This report explores whether inward-looking development strategies could be one of the reasons for slow
growth in Latin America and the Caribbean. Trade barriers are higher than in other developing regions, and
while numerous preferential trade agreements have been signed, many of them are intra-regional. The
report shows that South-North agreements are associated with increases in economic complexity and
faster economic growth than South-South agreements. It illustrates the point by assessing the economic,
social, spatial and environmental impacts of two major: South-North agreements signed over the last year. |
format |
Serial |
topic_facet |
GROWTH HOUSEHOLD INCOME INEQUALITY LABOR FORCE PARTICIPATION LABOR INCOME INEQUALITY LATIN AMERICA SLOWDOWN ELASTICITY INEQUALITY TERMS OF TRADE UNEMPLOYMENT TRADE MONETARY POLICY TERMS OF TRADE SHOCK CAPITAL FLIGHT |
author |
World Bank |
author_facet |
World Bank |
author_sort |
World Bank |
title |
Trade Integration as a Pathway to Development? |
title_short |
Trade Integration as a Pathway to Development? |
title_full |
Trade Integration as a Pathway to Development? |
title_fullStr |
Trade Integration as a Pathway to Development? |
title_full_unstemmed |
Trade Integration as a Pathway to Development? |
title_sort |
trade integration as a pathway to development? |
publisher |
Washington, DC: World Bank |
publishDate |
2019-10-10 |
url |
http://documents.worldbank.org/curated/en/507421570778369240/Trade-Integration-as-a-Pathway-to-Development https://hdl.handle.net/10986/32518 |
work_keys_str_mv |
AT worldbank tradeintegrationasapathwaytodevelopment AT worldbank laintegracioncomercialcomouncaminoaldesarrollo |
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1806031735094247424 |