Prospects for Free Trade in the Americas / Edition 1

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Overview

Negotiations on a Free Trade Area of the Americas (FTAA) were officially launched at the Santiago Summit in April 1998. This study examines the prospects for the FTAA in light of recent economic and political turmoil in Latin America and the continuing impasse over US "fast track" authority. The study evaluates progress to date in the trade talks and proposals for accelerating forward the target date of January 2005 for concluding negotiations. It surveys regional interests in the wide-ranging negotiating agenda and assesses the "readiness" of countries to participate in a hemisphere-wide free trade zone (based on updated "readiness indicators" originally developed by Hufbauer and Schott in their 1994 study, Western Hemisphere Economic Integration).

About the Author: Jeffrey J. Schott, Senior Fellow, was a Senior Associate at the Carnegie Endowment for International Peace (1982-83) and an International Economist at the US Treasury (1974-82). He is the editor of The WTO after Seattle (2000), Launching New Global Trade Talks: An Action Agenda (1998), Restarting Fast Track (1998), The World Trading System: Challenges Ahead (1996), author of Prospects for Free Trade in the Americas (2001), WTO 2000: Setting the Course for World Trade (1996), The Uruguay Round: An Assessment (1994), coauthor of Free Trade between Korea and the United States? with Inbom Choi (2001), Western Hemisphere Economic Integration (1994), NAFTA: An Assessment (rev. 1993), North American Free Trade: Issues and Recommendations (1992), Completing the Uruguay Round (1990), Economic Sanctions Reconsidered (2d edition 1990), Free Trade Areas and US Trade Policy (1989), The Canada-UnitedStates Free Trade Agreement: The Global Impact (1988), Auction Quotas and US Trade Policy (1987), and Trading for Growth: The Next Round of Trade Negotiations (1985).

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What People Are Saying

Richard Feinberg
A sober, informed assessment of trade relations in the Western Hemisphere . . . [It] elucidates the importance of trade negotiations for the broader inter-American agenda ...—(Richard Feinberg, Professor of International Political Economy and Pacific Studies, University of California, San Diego)
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Product Details

  • ISBN-13: 9780881322750
  • Publisher: Peterson Institute for International Economics
  • Publication date: 8/1/2001
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 150
  • Product dimensions: 6.30 (w) x 9.08 (h) x 0.32 (d)

Table of Contents

Preface vii
Acknowledgments xi
1 The Road to Free Trade in the Americas 1
Latin America's Economic Revival 4
FTAA: Learning from Experience 9
FTAA: The Hard Road Ahead 13
Plan of the Book 14
2 Readiness Indicators for Latin America and the Caribbean 15
About the Readiness Indicators 17
Developments since the Miami Summit 20
Appendix 2.1 Readiness by Region 28
3 The FTAA: Objectives and National Interests 83
FTAA Scope and Coverage 84
The FTAA and Economic Development 90
Regional Interests in the FTAA 92
4 Current Challenges and Prospects 101
Current Challenges 102
FTAA Scenarios 107
The Quebec Summit and Beyond 110
Completing the FTAA 113
Tables
Table 1.1 FTAA participants: Economic overview 3
Table 1.2 Latin America merchandise trade, 1990-99 7
Table 1.3 Foreign direct investment inflows, 1990-99 8
Table 2.1 2001 Readiness Indicators 22
Table 2.2 1994 Readiness Indicators 24
Table 2.3 Comparison of 2001 and 1994 rankings of Readiness Indicator scores 26
Table 2.4 Price stability: December-December variations in the consumer price index 53
Table 2.5 Budget discipline: Nonfinancial public sector surplus/deficit 55
Table 2.6 Gross national savings 57
Table 2.7 External debt 59
Table 2.8 Currency stability: Real effective exchange rate index 61
Table 2.9 Market-oriented policies 63
Table 2.10 Reliance on trade taxes 78
Table 2.11 Policy sustainability 80
Table 3.1 Latin American and the Caribbean: Trade shares, 1999 93
Table 3.2 US merchandise exports 95
Table 3.3 US merchandise imports 95
References 117
Index 121
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