Regional Integration

Paolo Giordano and Robert Devlin

in The Oxford Handbook of Latin American Economics

Published in print July 2011 | ISBN: 9780199571048
Published online September 2012 | | DOI:

Series: Oxford Handbooks in Economics

 Regional Integration

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This chapter schematically presents the origin, development, and future perspectives of regional integration in Latin America, placing emphasis on regional integration agreements, mainly free-trade areas and customs unions involving regional partners, as opposed to other forms of preferential trade agreements. The second section presents the main driving forces that explain the continued quest for regional integration in the region, with emphasis on their transformation over time. The third section describes the main initiatives at play under the old regionalism. The fourth section highlights the many novelties of the new regionalism, with emphasis on the policy background, the strategic objectives, and the policy instruments. The fifth section compares the performance of the old and the new regionalism. The sixth section presents the state of play of integration today after a failed attempt at hemispheric integration and the proliferation of bilateralism.

Keywords: Latin America; regional integration; RIA; customs unions; hemispheric integration; bilateralism

Article.  9877 words. 

Subjects: Economics ; International Economics ; Public Economics

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