Regional integration and macroeconomic coordination in Latin America

Includes bibliography

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Autor principal:	Escaith, Hubert
Formato:	Texto
Lenguaje:	English
Publicado:	2014
Materias:	COMERCIO INTRARREGIONAL COOPERACION ECONOMICA INTEGRACION ECONOMICA POLITICA ECONOMICA RELACION DE INTERCAMBIO ECONOMIC COOPERATION ECONOMIC INTEGRATION ECONOMIC POLICY INTRAREGIONAL TRADE TERMS OF TRADE
Acceso en línea:	http://hdl.handle.net/11362/11010
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id	oai-11362-11010
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spelling	oai-11362-110102020-11-19T01:58:04Z Regional integration and macroeconomic coordination in Latin America Escaith, Hubert COMERCIO INTRARREGIONAL COOPERACION ECONOMICA INTEGRACION ECONOMICA POLITICA ECONOMICA RELACION DE INTERCAMBIO ECONOMIC COOPERATION ECONOMIC INTEGRATION ECONOMIC POLICY INTRAREGIONAL TRADE TERMS OF TRADE Includes bibliography 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. 2014-01-02T18:43:45Z 2014-01-02T18:43:45Z 2004-04 Texto Sección o Parte de un Documento http://hdl.handle.net/11362/11010 LC/G.2220-P en CEPAL Review CEPAL Review 82 application/pdf AMERICA LATINA Y EL CARIBE LATIN AMERICA AND THE CARIBBEAN
institution	Cepal
collection	Cepal
language	English
topic	COMERCIO INTRARREGIONAL COOPERACION ECONOMICA INTEGRACION ECONOMICA POLITICA ECONOMICA RELACION DE INTERCAMBIO ECONOMIC COOPERATION ECONOMIC INTEGRATION ECONOMIC POLICY INTRAREGIONAL TRADE TERMS OF TRADE
spellingShingle	COMERCIO INTRARREGIONAL COOPERACION ECONOMICA INTEGRACION ECONOMICA POLITICA ECONOMICA RELACION DE INTERCAMBIO ECONOMIC COOPERATION ECONOMIC INTEGRATION ECONOMIC POLICY INTRAREGIONAL TRADE TERMS OF TRADE Escaith, Hubert Regional integration and macroeconomic coordination in Latin America
description	Includes bibliography
format	Texto
author	Escaith, Hubert
author_facet	Escaith, Hubert
author_sort	Escaith, Hubert
title	Regional integration and macroeconomic coordination in Latin America
title_short	Regional integration and macroeconomic coordination in Latin America
title_full	Regional integration and macroeconomic coordination in Latin America
title_fullStr	Regional integration and macroeconomic coordination in Latin America
title_full_unstemmed	Regional integration and macroeconomic coordination in Latin America
title_sort	regional integration and macroeconomic coordination in latin america
publishDate	2014
url	http://hdl.handle.net/11362/11010
work_keys_str_mv	AT escaithhubert regionalintegrationandmacroeconomiccoordinationinlatinamerica
_version_	1718433792734003200

Regional integration and macroeconomic coordination in Latin America

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