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Trade Integration in Latin America: A Network Perspective
Author:
Ms. Kimberly Beaton
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,
Aliona Cebotari
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,
Xiaodan Ding
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Andras Komaromi
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Series:
IMF Working Papers
Volume/Issue:
Volume 2017: Issue 148
Language:
English
Publication Date:
30 Jun 2017
DOI:
https://doi.org/10.5089/9781484303665.001
ISBN:
9781484303665
ISSN:
1018-5941
Pages:
33
Keywords:
WP; center; country; trade; trade link; integration; networks; Latin America and the Caribbean; trade network; trade openness; trade integration; trade ratio; LAC trade subnetwork; trade underperformance; integration measure; trade pattern; growth strategy; Trade balance; Exports; Trade integration; Trade agreements; Gravity models; Caribbean; Asia and Pacific; Global; Central America; North America
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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The paper applies a network analysis framework to analyze the regional and global integration of Latin American and Caribbean (LAC) countries. We compare network-based measures of trade integration to conventional measures, decomposing integration along several dimensions to better understand the sources of trade connectivity and their impact on growth. The paper finds that LAC countries are relatively well integrated in terms of links to diversified markets, but the strength of those links is weak. Comparing trade integration to predictions from gravity models, we find many LAC countries have significant scope to improve connectivity and increase their roles in regional and world trade networks.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund