The Political Economy of Protection explains why countries, especially developing countries, change their trade policies over the course of history. It does so through an interdisciplinary approach, which borrows analyses from both political science and economics. While the central focus of this book is to explain historical changes in trade policy in one country, Chile, it is broadly relevant for students, scholars, and trade specialists interested in gaining a deeper understanding of the politics and economics of international trade. Given the intensifying public debates about the benefits of globalization, the author provides a uniquely rigorous yet interdisciplinary analysis of the forces that shape trade policy decisions, not just in Chile, but throughout the world.

The Political Economy of Protection: Theory and the Chilean Experience (Social Science History)

Business & Money

Lederman, Daniel

Economics

Stanford University Press

Lessons from NAFTA: for Latin America and the Caribbean (Latin American Development Forum)

Analyzing the experience of Mexico under the North American Free Trade Agreement (NAFTA), the authors draw lessons for other countries considering free trade agreements with the United States. The authors conclude that NAFTA raised external trade and foreign investment inflows and had a modest effect on Mexico’s average income per person. It is likely that NAFTA also helped achieve a modest reduction in poverty and an improvement in job quality. However, major obstacles remain to Mexico’s long term development―NAFTA is not enough. The main lesson for other countries is that free trade agreements offer opportunities to accelerate economic growth, but do not guarantee it.

Maloney, William F.

Servén, Luis

Stanford Economics and Finance

Analyzing the experience of Mexico under the North American Free Trade Agreement (NAFTA), the authors draw lessons for other countries considering free trade agreements with the United States. The authors conclude that NAFTA raised external trade and foreign investment inflows and had a modest effect on Mexico’s average income per person. It is likely that NAFTA also helped achieve a modest reduction in poverty and an improvement in job quality. However, major obstacles remain to Mexico’s long term development―NAFTA is not enough. The main lesson for other countries is that free trade agreements offer opportunities to accelerate economic growth, but do not guarantee it.

There is already a large and growing literature about the financial crises affecting several former star economic performers in Asia. Some analysis have focused on the mismanagement of the structure of foreign debt and economic policies, while others have focused on weaknesses ingrained in the domestic financial and banking sectors of these economies. This paper attempts to reconcile these alternative explanations in a simple framework, where the causes and symptoms of "financial vulnerability" are distinguished.

Financial Vulnerability, Spillover Effects, and Contagion: Lessons from the Asian Crises for Latin America (World Bank Latin American and Caribbean Studies. Viewpoints)

Perry, Guillermo E.

World Bank

'This study provides a balanced and serious evaluation of the trade and development challenges facing Central America in the next decade, especially those associated with DR-CAFTA. And there is a sobering and timely message within these pages. DR-CAFTA offers great opportunity, but it is no magic potion. Capitalizing on the opportunities andd mitigating the costs depends critically on the success by the Central Americans in developing an effective domestic agenda and handling the ensuing economic and social restructuring. The study provides useful guidance toward this objective, including how best to assist vulnerable groups. It is an indispensable reference for policy makers and social actors in the region and for international partners who wish to help Central Americans fulfill thier hopes and dreams.'--Jose Manuel Salazar-Xirinachs, Executive Director of the International Labour Organization's Employment Sector, Former Minister of Trade for Costa Rica

Challenges of CAFTA: Maximizing the Benefits for Central America (Directions in Development - Trade)

Gould, David

Andrew, Mason

Jaramillo, C. Felipe

Bussolo, Maurizio

World Bank Publications

Does what economies export matter for development? If so, can industrial policies improve on the export basket generated by the market? This book approaches these questions from a variety of conceptual and policy viewpoints. Reviewing the theoretical arguments in favor of industrial policies, the authors first ask whether existing indicators allow policy makers to identify growth-promoting sectors with confidence. To this end, they assess, and ultimately cast doubt upon, the reliability of many popular indicators advocated by proponents of industrial policy. Second, and central to their critique, the authors document extraordinary differences in the performance of countries exporting seemingly identical products, be they natural resources or 'high-tech' goods. Further, they argue that globalization has so fragmented the production process that even talking about exported goods as opposed to tasks may be misleading. Reviewing evidence from history and from around the world, the authors conclude that policy makers should focus less on what is produced, and more on how it is produced. They analyze alternative approaches to picking winners but conclude by favoring 'horizontal-ish' policies--for instance, those that build human capital or foment innovation in existing and future products―that only incidentally favor some sectors over others.

Does What You Export Matter?: In Search of Empirical Guidance for Industrial Policies (Latin American Development Forum)

Maloney, William

International

The world economy is not what it used to be twenty years ago. For most of the 20th century, the world economy was characterized by developed (North) countries acting as 'center' to a 'periphery' of developing (South) countries. However, the recent rise of developing economies suggests the need to go beyond this North-South dichotomy. This tectonic re-configuration of the global landscape has brought about significant changes to countries in the Latin America and Caribean (LAC) region. The time is ripe for an in-depth analysis of the dynamics and nature of LAC's external connections.This latest volume in the World Bank Latin American and Caribbean Studies series will focus on the implications of these trends for the economic development of LAC countries. In particular, trade, financial, macroeconomic, and sectoral shifts, as well as labor-market aspects will be systematically analyzed.

Latin America and the Rising South: Changing World, Changing Priorities (World Bank Latin American and Caribbean Studies)

De La Torre, Augusto

Schmukler, Sergio L.

Ize, Alain

Didier, Tatiana

Este reporte explora la restructuración de la economía global ocasionada por el ascenso del Sur y destaca la transformación en los patrones de integración global de ALC y las consecuencias de esta transformación en la dinámica del desarrollo de la región. En particular, se analiza de forma sistemática los aspectos concernientes al comercio y las finanzas internacionales, la macroeconomía y el mercado laboral latinoamericano.

América Latina y el ascenso del Sur: Nuevas prioridades en un mundo cambiante

This book proposes a renewal of 'Open Regionalism' in Latin America and the Caribbean (LAC) aimed at achieving the region's goals of high growth with stability. The LAC region experienced a growth spurt with equity during the first decade of the 21st Century. It is well understood that an unsustainable demand boom fueled by terms-of-trade improvements drove this growth acceleration episode, especially in South America. Unfortunately, terms of trade are no longer fueling growth, and the region’s policymakers are in search of new sources of growth with stability. With the experience of East Asia and the Pacific in mind, many policymakers in LAC are looking to international economic ties as a potential source of stable growth. The challenge highlighted in this book lies in designing an integration agenda comprising trade and factor market integration that is conducive to region-wide efficiency gains, which can help LAC enhance its global competitiveness. The forces of geography imply that pro-growth global integration cannot be achieved without building a strong neighborhood. Thus, this volume argues that LAC's regional economic integration agenda needs to go well beyond the current spaghetti bowl of preferential trading arrangements.

Better Neighbors: Toward a Renewal of Economic Integration in Latin America (World Bank Latin American and Caribbean Studies)

Bown, Chad P.

Robertson, Raymond

Pienknagura, Samuel

The Upside of Digital for the Middle East and North Africa: How Digital Technology Adoption Can Accelerate Growth and Create Jobs

Cusolito, Ana Paula

Gévaudan, Clément

Wood, Christina

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