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Lessons from NAFTA for Latin America and the Caribbean (English)

Analyzing the experience of Mexico under the North American Free Trade Agreement (NAFTA), "Lessons from NAFTA" aims to provide guidance to Latin American and Caribbean countries considering free trade agreements with the United States. The authors conclude that the treaty raised external trade and foreign investment inflows and had a modest effect on Mexico's average income per person. It is likely that the treaty also helped achieve a modest reduction in poverty and an improvement in job quality.

Details

  • Author

    Lederman,Daniel, Maloney,William F., Serven,Luis

  • Document Date

    2004/11/15

  • Document Type

    Publication

  • Report Number

    34435

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Latin America,

    United States,

  • Region

    Latin America & Caribbean, Rest Of The World,

  • Disclosure Date

    2005/11/22

  • Disclosure Status

    Disclosed

  • Doc Name

    Lessons from NAFTA for Latin America and the Caribbean

  • Keywords

    general agreement on tariffs and trade;rules of origin;protection of intellectual property right;access to international financial market;real exchange rate volatility;net exporter of apparel;false sense of security;flexible exchange rate regime;net exporter of machinery;Secretariat of Social Development;regional value content rules;trade agreement;free trade agreement;foreign direct investment;growth and development;per capita income;unilateral trade reforms;trade and fdi;process of convergence;skills and education;quality of job;national poverty rate;decline in poverty;common fiscal rule;Rule of Law;domestic producer price;fiscal policy coordination;dispute settlement filings;macroeconomic policy coordination;source of income;source income;unilateral trade liberalization;bilateral trade negotiation;regression of log;bloc dummy coefficients;corporate governance reform;informal sector;agricultural income subsidies;market access effect;independent monetary policy;increase in land;effects on income;trade in manufacture;macroeconomic policy design;regional trade integration;competitive textile industry;income support program;regional trade relief;export of apparel;dispute settlement mechanism;domestic financial market;volume of trade;rate of convergence;imports of textiles;flow of good;unilateral reform;real wage;monetary unification;economic convergence;agricultural production;alternative measure;financial crisis;income convergence;countervailing duty;severely limits;trade diversion;fiscal position;income gap;innovation policy;fiscal institution;import surge;irrigated land;economic integration;trade flow;aggregate fluctuation;institutional framework;capital account;currency union;safeguard duties;domestic production;research effort;utilization rate;factor market;agricultural support;Innovation Policies;apparel export;tequila crisis;real income;preferential treatment;apparel industry;wage differential;explaining change;domestic credit;Tax Reform;aggregate volatility;resource revenue;foreign investor;research present;survey results;fiscal incentive;policy variable;trade interdependence;import share;creditor right;regional origin;high trade;monetary coordination;central institution;migrants' remittance;agricultural good;statistical analyses;Fiscal Reform;enforcement mechanism;fiscal stabilizer;fiscal target;trade deflection;fiscal surplus;fiscal stance;simulation result;suitable candidate;fiscal collection;input use;inflation target;apparel manufacture;public debate;beneficiary country;tax base;Monetary Stability;small economy;fiscal imbalance;foreign penetration;agricultural import;income transfer;Trade Law;temporary tax;poultry import;financial system;International Trade;banking system;aggregate capital;financial service;Investment Flow;global export;technological innovation;positive impact;domestic reform;small producer;capital inflow;Capital Inflows;Labor Market;research assistance;trade pact;agricultural producer;traditional sector;traditional products;production level;relative price;indigenous population;national policy;financial integration;Financial Access;income poverty;production support;capital flow;investment chapter;applicable law;political science;subsidiary right;academic community;econometric analysis;tariff preference;external events;external environment;higher growth;productivity increase;policy stance;industrialized country;Industrialized countries;domestic institution;innovation dynamic;duty-free access;macroeconomic instability;investment climate;productivity growth;multilateral action;macroeconomic synchronization;urban agricultural policy;import tariff;human capital;technological advancement;macroeconomic dynamic;nonmember countries;multiplier effect;smaller one;knowledge flow;tariff structure;empirical relationship;preference utilization;institutional improvement;unilateral efforts;liberalizing trade;efficiency gain;production decision;macroeconomic volatility;partner country;economic shock

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Citation

Lederman,Daniel Maloney,William F. Serven,Luis

Lessons from NAFTA for Latin America and the Caribbean (English). Latin American development forum Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/787441468318270837/Lessons-from-NAFTA-for-Latin-America-and-the-Caribbean