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2. A Resurgent MERCOSUR: Confronting Economic Crises and Negotiating Trade Agreements
- Author:
- Thomas Andrew O'Keefe
- Publication Date:
- 02-2003
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- Almost from the day it was launched on March 26, 1991, skeptics have predicted the imminent collapse of the Common Market of the South (Mercado Común del Sur — MERCOSUR), while some economists have fretted about the project's supposed protectionist designs to create a trade fortress. The most memorable example of the latter was a 1996 report written by a World Bank economist that relied on out-of-date trade statistics and attributed to MERCOSUR policies that were actually pre-existing national automotive regimes. More recent tirades have tried to blame Argentina's economic meltdown on its MERCOSUR membership. A well-known economist from a New York City investment bank has even gone as far as to proclaim MERCOSUR dead. Given all the invective directed against efforts to integrate South America's Southern Cone economically over the past decade, it is not surprising that MERCOSUR is misunderstood by many in North America.
- Topic:
- Economics, International Trade and Finance, and Treaties and Agreements
- Political Geography:
- South America, Latin America, and North America
3. The Argentine Implosion
- Author:
- Luigi Manzetti
- Publication Date:
- 11-2002
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- In December 2001, Argentina recorded the world's largest default ever, as it failed to honor payments on its US$132 billion foreign debt. Since then, five presidents have been in power, the Argentine peso has been devalued by 120 percent, and the banking system has virtually collapsed, dragging the economy into a depression. The gross domestic product (GDP) contracted 16.3 percent in the first quarter of 2002. Argentina's per capita income has become one of the worst in Latin America, and, as a result, more than one-third of its people live under the poverty line. 1 Argentines' confidence in their elected officials has disappeared. By most accounts, the country has literally imploded to a degree that has no precedent in Latin America's contemporary history. This is particularly bewildering, considering that only 10 years ago Argentina was hailed around the world as a model of successful economic reforms, with standards of living that were not only the highest in the region but comparable to those of some southern European countries. How could Argentina go from role model to international outcast so quickly? Some place the blame on external shocks created by the financial crises in Mexico (1995), Indonesia (1997), Thailand (1998), and Russia (1998). Others say the cause of the problem was misguided policy advice from the International Monetary Fund (Stiglitz 2002). Yet, most analyses ascribe much of the trouble to the Convertibility Law's fixed exchange rate policy adopted in 1991.
- Topic:
- Economics, Government, and International Trade and Finance
- Political Geography:
- Russia, Indonesia, Argentina, South America, Latin America, Mexico, and Thailand
4. Protecting the Environment While Opening Markets in the Americas
- Author:
- William Krist
- Publication Date:
- 01-2002
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- Market Access Negotiations are a major element of the efforts to create a Free Trade Area of the Americas (FTAA) by 2020. If successful, these negotiations will remove all tariff and nontariff barriers to trade among the 34 participating countries on all nonagricultural products, including forest and mining products, fish, and manufactured goods.
- Topic:
- Development, Environment, and International Trade and Finance
- Political Geography:
- United States, South America, Latin America, Central America, Caribbean, and North America
5. The Aftershock of 9/11: Implications for Globalization and World Politics
- Author:
- Richard Bernal
- Publication Date:
- 09-2002
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- Globalization is a multi-dimensional process that is transforming national and global activities and interactions at a rapid rate and in a profound way. The changes encompassed by globalization have far-reaching implications for all aspects of life. The pace, extent, and character of globalization differ among economic, political, and social dimensions. While there is no single agreed-upon definition of globalization, it is generally understood to be a process in which barriers to the international flow of goods, services, capital, money, and information are being increasingly eroded or eliminated.
- Topic:
- International Relations, Globalization, and International Trade and Finance
6. Free Trade, Smart Borders, and Homeland Security: U.S.-Caribbean Cooperation in a New Era of Vulnerability
- Author:
- Stephen Flynn and Anthony Bryan
- Publication Date:
- 09-2002
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- In the hours following the collapse of the World Trade Center twin towers on September 11, 2001, the United States applied a tourniquet to the transportation arteries that feed its national economy. The first campaign in the war to protect the U.S. homeland turned out to be an embargo on its own economy. Given the uncertainty surrounding the attacks, freezing its transport networks first and asking questions later was probably appropriate. But then came the hard part—how to resume global trade and travel after U.S. citizens' confidence in the security of their nation had been rocked to core? In the immediate aftermath of the terrorist attacks on the United States, front-line agencies like the U.S. Customs Service, Coast Guard, Immigration and Naturalization Service (INS), Department of Agriculture, and Border Patrol were being called upon to open U.S. borders and seaports once again to legitimate trade and travel. At the same time, they were tasked with exercising increased vigilance in detecting and intercepting would-be terrorists or the means of terrorism, including weapons of mass destruction that might be smuggled in a vehicle, train, truck, or maritime container. Just how the United States arrives at the appropriate balance—between openness to facilitate legitimate commerce and exercising sufficient controls to stem transnational threats to public safety and security—is one of the most critical public policy challenges confronting U.S.-Caribbean relations.
- Topic:
- International Relations, Security, and International Trade and Finance
- Political Geography:
- United States and Caribbean
7. A Free Trade Area of the Americas: Implications of Success or Failure for the Members of the OAS
- Author:
- Stephen Keat
- Publication Date:
- 08-2002
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- Ongoing negotiations involving all the nations in the Americas except for Cuba are aimed at agreeing on a Free Trade Area of the Americas (FTAA or ALCA in Spanish) “from Alaska to Tierra del Fuego” by 2005. In addition to potentially revolutionizing the economies of some of the members of the Organization of American States (OAS), an FTAA will have major political, social, and even military ramifications for the Inter-American System. Failure to agree, however, will not just leave the member states with the present status quo. It would have negative impacts in the above-cited areas.
- Topic:
- International Organization and International Trade and Finance
- Political Geography:
- America
8. Caribbean Tourism: Igniting the Engines of Sustainable Growth
- Author:
- Anthony T. Bryan
- Publication Date:
- 11-2001
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- Tourism drives economic growth in ways that make it one of the best engines for job creation and development for poor countries that possess natural beauty and relevant infrastructure. The industry is highly labor intensive and encourages entrepreneurship. Under its ambit, property owners, restaurants, and local suppliers of goods and services, among others, develop the habits of risk taking without which no economy can realize its full potential. Tourism holds out the prospect of a better life for those stakeholders who make money from it. Not unlike trade, it improves an economy's competitiveness. Trade does so because it stimulates local suppliers to match the quality and variety of imported goods. Tourism does so because returning travelers to a destination demand the goods and services they have seen in other countries (Elliott 2001).
- Topic:
- Development, Environment, and International Trade and Finance
- Political Geography:
- United States, Latin America, and Caribbean
9. Protest and Collaboration: Transnational Civil Society Networks and the Politics of Summitry and Free Trade in the Americas
- Author:
- Patricio Korzeniewicz and William C. Smith
- Publication Date:
- 09-2001
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- This paper examines the politics of hemispheric integration exemplified by the Summits of the Americas held in Miami (1994), Santiago (1998), and Quebec (2001) and the negotiations over the creation of a Free Trade Area of the Americas (FTAA). Our basic premise is that political and institutional arrangements articulating state, society, and economy in Latin America are currently in the midst of a process of reconfiguration unleashed by the acceleration of globalization and attendant crises of state-centered development strategies. More specifically, we believe the Americas are witnessing the emergence of an ensemble of new social and political actors, among the most salient of which are new social movements and civil society organizations (CSOs), organized in networks operating at the domestic, regional, and global levels.
- Topic:
- Economics, International Trade and Finance, and Political Economy
- Political Geography:
- United States, America, South America, Latin America, Central America, Caribbean, North America, and Miami
10. The Impact of MERCOSUR on the Automobile Industry
- Author:
- Jerry Haar and Thomas A. O'Keefe
- Publication Date:
- 09-2001
- Content Type:
- Working Paper
- Institution:
- The North-South Center, University of Miami
- Abstract:
- A transformation of the automotive industry, particularly the segment involved in production of finished vehicles, has taken place in the Southern Common Market (Mercado Común del Sur/Mercado Comum do Sul—MERCOSUR/MER-COSUL) region of South America, at a time when MERCOSUR member states opened their economies to global competition and to participation in an ambitious subregional economic integration project. This Agenda Paper provides an overview of the factors that have contributed to this recent industry transformation. The paper also examines the factors involved in the formal incorporation of the automotive sector into the MERCOSUR project and discusses the impact this development is like-ly have on the subregional automobile industry,
- Topic:
- Economics, International Trade and Finance, and Political Economy
- Political Geography:
- United States, South America, Latin America, and North America
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