Lessons from NAFTA (Latin American Development Forum): For Latin America and the Caribbean - Softcover

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

Softcover

ISBN 10: 0821358138 ISBN 13: 9780821358139

Publisher: World Bank Publications, 2004

Synopsis

Aimed at providing guidance to Latin American and Caribbean countries on what to expect from free trade agreements (FTAs), Lessons from NAFTA, identifies policies-both in terms of measures that countries can take unilaterally and those that could be negotiated with FTA partners - that can help them derive the maximum benefits from trade integration in the Americas. Although the report estimates that without NAFTA, global exports would have been roughly 25 percent lower; Foreign Direct Investment around 40 per cent less, and Mexico's USD5,920 per capita income in 2002 would have been 4-5 percent lower, Mexico has yet to achieve economic convergence with Canada and the United States. The report concludes that Mexico's deficiencies in education and research and development have limited the power of NAFTA to enable the country to reach the level of technological progress of the United States or even of countries such as Korea. Lessons from NAFTA recommends reforms that promote macroeconomic stability, improve institutions and investment climate, and build educational and innovation systems that foster technological and productivity growth. Finally, the report argues that NAFTA would be more effective with certain modifications-allowed by the agreement itself-in the areas of rules of origin to allow certain Mexican industries, like textiles and apparel, to enter the United States easier, as well as certain changes to unfair trade practices related to antidumping and countervailing duties.

About this title

Review

" Lessons from NAFTA" is important perhaps less for what it tells us about changes under a free-trade agreement and more for its nuanced and careful empirical investigation of how trade can actually make people better off. This, indeed, is the ' big story' of NAFTA and the potential for free trade agreements in the region." -- Political Science Quarterly"

" "Lessons from NAFTA" is important perhaps less for what it tells us about changes under a free-trade agreement and more for its nuanced and careful empirical investigation of how trade can actually make people better off. This, indeed, is the ' big story' of NAFTA and the potential for free trade agreements in the region." -- "Political Science Quarterly"

""Lessons from NAFTA" is important perhaps less for what it tells us about changes under a free-trade agreement and more for its nuanced and careful empirical investigation of how trade can actually make people better off. This, indeed, is the 'big story' of NAFTA and the potential for free trade agreements in the region." "Political Science Quarterly""

"Lederman, Maloney, and Serven offer an excellent empirical investigation into the impacts of the North America Free Trade Agreement (NAFTA) on the Mexican economy. . . . The authors pay close attention to the experiences of other Latin American countries and the European Union while avoiding ideological debates."--CHOICE

"Lessons from NAFTA is important perhaps less for what it tells us about changes under a free-trade agreement and more for its nuanced and careful empirical investigation of how trade can actually make people better off. This, indeed, is the 'big story' of NAFTA and the potential for free trade agreements in the region."--Political Science Quarterly

-Lessons from NAFTA is important perhaps less for what it tells us about changes under a free-trade agreement and more for its nuanced and careful empirical investigation of how trade can actually make people better off. This, indeed, is the 'big story' of NAFTA and the potential for free trade agreements in the region.---Political Science Quarterly

Synopsis

Aimed at providing guidance to Latin American and Caribbean countries on what to expect from free trade agreements (FTAs), Lessons from NAFTA, identifies policies-both in terms of measures that countries can take unilaterally and those that could be negotiated with FTA partners - that can help them derive the maximum benefits from trade integration in the Americas. Although the report estimates that without NAFTA, global exports would have been roughly 25 percent lower; Foreign Direct Investment around 40 per cent less, and Mexico's USD5,920 per capita income in 2002 would have been 4-5 percent lower, Mexico has yet to achieve economic convergence with Canada and the United States. The report concludes that Mexico's deficiencies in education and research and development have limited the power of NAFTA to enable the country to reach the level of technological progress of the United States or even of countries such as Korea. Lessons from NAFTA recommends reforms that promote macroeconomic stability, improve institutions and investment climate, and build educational and innovation systems that foster technological and productivity growth.

Finally, the report argues that NAFTA would be more effective with certain modifications-allowed by the agreement itself-in the areas of rules of origin to allow certain Mexican industries, like textiles and apparel, to enter the United States easier, as well as certain changes to unfair trade practices related to antidumping and countervailing duties.

Edition details

• Publisher: World Bank Publications
• Publication date: 2004
• Language: English
• ISBN 10: 0821358138
• ISBN 13: 9780821358139
• Binding: Paperback
• Number of pages: 386