[...]... trademarks, and are used only for identification and explanation without intent to infringe British Library Cataloguing in Publication Data A catalogue record for this book is available from the British Library Library of Congress Cataloging in Publication Data Market liberalism, growth, and economic development in Latin America / edited by Gerardo Angeles­Castro, Ignacio Perrotini­Hernández and Humberto... / edited by Gerardo Angeles­Castro, Ignacio Perrotini­Hernández and Humberto Ríos-Bolivar p cm Includes bibliographical references and index 1 Latin America Economic policy 2 Latin America Commercial policy 3 Free trade Latin America 4 Economic development Latin America I Angeles­Castro, Gerardo II Perrotini­Hernández, Ignacio III Ríos­Bolivar, Humberto HC125.M325185 2010 330.98–dc22 2010047759 ISBN... Mercosur and Mexico under NAFTA Also, these trends in trade and FDI have generally had positive static effects on per capita income according to Ríos-Bolívar and Neme-Castillo in a study of a set of 21 Latin American and Caribbean countries The second part of the book deals with trade reforms and development experience presenting three case studies of Latin American countries (Argentina, Chile, and Uruguay)... investment treaties and free trade agreements) and the flows of FDI in Chile, the third largest recipient of foreign investment in Latin America (after Brazil and Mexico) in absolute terms and the second in per capita terms after Trinidad and Tobago Using an augmented gravity model, the author finds that bilateral investment treaties have a positive and significant impact on FDI inflows, while there... Caribbean and Pacific Countries Augmented Dickey-Fuller Andean Free Trade zone Asociación Latinoamericana de Integración (Latin American Association of Integration) APEC Asian­Pacific Economic Cooperation BADECEL Banco de Datos Estadísticos de Comercio Exterior (Statical Data Bank for Foreing Trade) BADEINSO Social Statistics and Indicators BCIA Banco de Crédito Industrial Argentino (Argentinian Industrial... developing and, in particular, Latin American countries, before and after and cross country comparisons, as well as case studies of Argentina, Chile, Mexico and Uruguay The first part of the book focuses on the effects of trade liberalization and the processes of regional integration in Latin America Trade liberalization has not lived up to expectations regarding growth performance, poverty reduction and. .. the interest rate under this regime may encourage Ponzi financing Using a production function approach, Ríos­Bolívar and Valderrama­Santibáñez study the relationship between the labour productivity growth and investment in research and development (R&D) for the manufacturing sector, trade and services, finding that investment in R&D has a positive effect on productivity growth in the three sectors Finally,... ratio, 1960–2009 China: trade balance–GDP ratio, 1978–2008 Argentina’s development gap, 1960–2008 Brazil’s development gap, 1960–2008 Chile’s development gap, 1960–2008 Mexico’s development gap, 1960–2008 China’s development gap, 1960–2008 Argentina’s gross investment and gross savings, 1960–2009 Brazil’s gross investment and gross savings, 1960–2009 Chile’s gross investment and gross savings, 1960–2009... (National Institute for Statistics, Geography and Informatics) Instituto Politécnico Nacional (National Polytechnic Institute) Import Substituting Industrialization Inflation Targeting Instrumental Variables Lagrange Multiplayer Test Mercado Común del Sur (South American Common Market) Ministry of Finance Multinational Companies Mexican Stock Market Macroeconomic Unemployment Rate Mergers and Acquisitions... the average income in the service sector in relation to the agricultural and manufacturing sectors, a negative relationship between wages and market openness, and the increase in skill premium On the other hand, between 1998 and 2006, income dispersion fell gradually and some of the factors driving this trend are the decrease in returns to skill and a weaker effect of market openness in wages Venegas-Martínez . cm. Includes bibliographical references and index. 1. Latin America Economic policy. 2. Latin America Commercial policy. 3. Free trade Latin America. 4. Economic development Latin America. . Social Inclusion and Economic Development Contrasting theories and realities Edited by A.H.J. (Bert) Helmsing and Sietze Vellema 89 Market Liberalism, Growth, and Economic Development in Latin. Congress Cataloging in Publication Data Market liberalism, growth, and economic development in Latin America / edited by Gerardo AngelesCastro, Ignacio PerrotiniHernández and Humberto Ríos-Bolivar.