Prospects for Free Trade in the Americas / Edition 1

Prospects for Free Trade in the Americas / Edition 1

by Jeffrey J. Schott, C. Fred Bergsten
     
 

ISBN-10: 088132275X

ISBN-13: 9780881322750

Pub. Date: 08/01/2001

Publisher: Peterson Institute for International Economics

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

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).

Product Details

ISBN-13:
9780881322750
Publisher:
Peterson Institute for International Economics
Publication date:
08/01/2001
Edition description:
New Edition
Pages:
150
Product dimensions:
6.30(w) x 9.08(h) x 0.32(d)

Table of Contents

Prefacevii
Acknowledgmentsxi
1The Road to Free Trade in the Americas1
Latin America's Economic Revival4
FTAA: Learning from Experience9
FTAA: The Hard Road Ahead13
Plan of the Book14
2Readiness Indicators for Latin America and the Caribbean15
About the Readiness Indicators17
Developments since the Miami Summit20
Appendix 2.1Readiness by Region28
3The FTAA: Objectives and National Interests83
FTAA Scope and Coverage84
The FTAA and Economic Development90
Regional Interests in the FTAA92
4Current Challenges and Prospects101
Current Challenges102
FTAA Scenarios107
The Quebec Summit and Beyond110
Completing the FTAA113
Tables
Table 1.1FTAA participants: Economic overview3
Table 1.2Latin America merchandise trade, 1990-997
Table 1.3Foreign direct investment inflows, 1990-998
Table 2.12001 Readiness Indicators22
Table 2.21994 Readiness Indicators24
Table 2.3Comparison of 2001 and 1994 rankings of Readiness Indicator scores26
Table 2.4Price stability: December-December variations in the consumer price index53
Table 2.5Budget discipline: Nonfinancial public sector surplus/deficit55
Table 2.6Gross national savings57
Table 2.7External debt59
Table 2.8Currency stability: Real effective exchange rate index61
Table 2.9Market-oriented policies63
Table 2.10Reliance on trade taxes78
Table 2.11Policy sustainability80
Table 3.1Latin American and the Caribbean: Trade shares, 199993
Table 3.2US merchandise exports95
Table 3.3US merchandise imports95
References117
Index121

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