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

Open Regionalism and New Integration: What Model Generates More Trade Integration In South America?

Abstract:
South America has recently experienced two models of integration in the process of economic globalisation. In the nineties, open regionalism prioritised growth in trade through the free market and the minimum governmental intervention. In the 21st century, the integration model known as new integration proposed to raise intra-regional benefits beyond the economic field.

Both models coexist, and they could even complement each other. However, beyond theory, it is timely to question which one has generated significant commercial integration.

The application of several indexes shows how the exchange between South American countries was higher in the nineties that in the 21st century. This is attributed to the irruption of China in the market that has absorbed a significant part of the regional trade in the last years. The situation invites to consider that open regionalism has generated more commercial integration than new integration, seduced by international opportunities.

Resumen:
Sudamérica ha experimentado recientemente dos modelos de integración en el proceso de globalización económica. En los noventa, el regionalismo abierto priorizaba el crecimiento del comercio y promovía para ello el libre mercado y la mínima intervención del Estado.

En el siglo XXI, la nueva integración proponía un comercio intrarregional capaz de crecer y generar beneficios más allá de los económicos apoyándose para ello en la UNASUR. Ambos modelos conviven en el discurso y podrían llegar a complementarse en la práctica pero, más allá de la teoría ¿cuál ha generado una mayor integración comercial?

La aplicación de varios índices muestra cómo el intercambio entre países sudamericanos era mayor en los noventa que en el siglo XXI por la irrupción de China en el mercado, que ha absorbido en los últimos años parte importante del comercio regional, lo que invita a considerar que el regionalismo abierto ha generado más integración comercial que la nueva integración, seducida por las oportunidades desde el exterior.

Author: Susana Herreo Olarte
Spanish Title: Regionalismo Abierto y Nueva Integración, ¿Qué modelo Genera más Integración Comercial en Sudamérica?
Full document: 2017, Herrero, Regionalismo Abierto y Nueva Integración, ¿qué Modelo Genera más Integración Comercial en Sudamérica?

February 11, 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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