Trade Integration in Latin America: A Network Perspective

By Kimberly Beaton, Aliona Cebotari, Xiaodan Ding, Andras Komaromi

June 30, 2017

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Kimberly Beaton, Aliona Cebotari, Xiaodan Ding, and Andras Komaromi. Trade Integration in Latin America: A Network Perspective, (USA: International Monetary Fund, 2017) accessed November 21, 2024

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.

Summary

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.

Subject: Econometric analysis, Economic integration, Exports, Gravity models, International trade, Trade agreements, Trade balance, Trade integration

Keywords: Asia and Pacific, Caribbean, Center, Central America, Country, Exports, Global, Gravity models, Growth strategy, Integration, Integration measure, LAC trade subnetwork, Latin America and the Caribbean, Networks, North America, Trade, Trade agreements, Trade balance, Trade integration, Trade integration, Trade link, Trade network, Trade openness, Trade pattern, Trade ratio, Trade underperformance, WP

Publication Details

Pages:

33
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2017/148
Stock No:

WPIEA2017148
ISBN:

9781484303665
ISSN:

1018-5941

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