Front Matter

Front Matter

International Monetary Fund
Published Date:
March 1992
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    © 1992 International Monetary Fund

    Library of Congress Cataloging-in-Publication Data

    Torre, Augusto de la.

    Regional trade arrangements / Augusto de la Torre and Margaret Kelly.

    p. cm.—(Occasional Paper, ISSN 0251-6365; no. 93) Includes bibliographical references.

    ISBN 1-55775-227-3 : $15.00

    1. International trade. 2. Commercial treaties. I. Kelly, Margaret R. II. Title. III. Series: Occasional paper (International Monetary Fund) ; no. 93.

    HF1379. T67 1992




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    The following symbols have been used throughout this paper:

    … to indicate that data are not available;

    —to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;

    –between years or months (e.g., 1991–92 or January–June) to indicate the years or months covered, including the beginning and ending years or months;

    / between years (e.g., 1991/92) to indicate a crop or fiscal (financial) year.

    “Billion” means a thousand million.

    Minor discrepancies between constituent figures and totals are due to rounding.

    The term “country,” as used in this paper, does not in all cases refer to a territorial entity that is a state as understood by international law and practice. The term also covers some territorial entities that are not states, but for which statistical data are maintained and provided internationally on a separate and independent basis.


    Regional trade arrangements have recently attracted growing interest, as existing schemes are either being extended or revived and new groupings are being formed. This study reviews recent initiatives and the experience with regional integration in industrial and developing countries and discusses the implications of the recent expansion of the trend for the multilateral trading system. Developments up to the end of 1991 have been included, prior to the scheduled conclusion of the Uruguay Round.

    The study was prepared by the Trade and Payments Division of the Exchange and Trade Relations Department of the International Monetary Fund. The main authors are Augusto de la Torre and Margaret R. Kelly, with contributions from Bernhard Fritz-Krockow and Miranda Xafa. The authors are indebted to a number of colleagues, both in the Fund and in other national and international agencies, for their willingness to exchange views and provide information. The authors are grateful to Joslin Landell-Mills for her assistance in preparing the Occasional Paper from an earlier longer manuscript; to the editor, David M. Cheney, of the External Relations Department; to Peter Uimonen and Christine Hörbinger for research assistance; and to Marcela Toso and Elizabeth Mack for keyboarding. The authors alone are responsible for the study; their opinions do not necessarily reflect the views of the Fund.

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