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Regional Integration in Latin America - The Pacific Alliance a Way Ahead
Journal Articles, Spanish

The Pacific Alliance and Mercosur: Evidence of Economic Convergence

Abstract:
Using an economic convergence index and the analysis of correlations between several macroeconomic aggregates, this paper approaches the problem of economic convergence among country members of the Pacific Alliance and Mercosur. Data were extracted from different sources and refer to the 1980-2014 period. Empirical results are not conclusive. It is not possible to determine the path that these two major blocs must follow to conquer an expanded and deeper economic integration, although the patterns followed by the member country decisions for a more significant economic convergence suggest that this may be feasible in the medium and long run. The economic convergence index shows this tendency. However, correlation analysis does not allow establishing a definite answer.

Resumen:
Mediante el cálculo de un índice de convergencia económica y el análisis de correlaciones entre varias variables macroeconómicas, se estudia la posibilidad de convergencia económica entre los países miembros de la Alianza del Pacífico con los de Mercosur. Para ello se utiliza información estadística del periodo 1980-2014. A partir de lo anterior, los resultados no son concluyentes, no es posible determinar el rumbo a seguir por estos dos acuerdos para una expansión y una mayor integración económica, aunque los patrones observados sobre las decisiones de los países miembros para este objetivo sugieren que esta pudiera ser bastante factible en el mediano plazo y el índice de convergencia económica refleja esa tendencia. Sin embargo, el análisis de correlaciones no permite establecer una conclusión definitiva.

Author: José Ustorgio Mora Mora
Spanish Title: La Alianza del Pacífico y Mercosur: Evidencias de Convergencia económica
Full document: 2016, Mora, La Alianza del Pacífico y Mercosur- Evidencias de Convergencia Económica

March 13, 2016by Ana Maria Palacio

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Hello my name is Ana Maria Palacio. I have a PhD from the University of Melbourne. This blog is about my thesis project, the Pacific Alliance.

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