Western Hemisphere Economic Integration

by Gary Clyde Hufbauer and Jeffrey J. Schott
July 1994
Book Description

The summit of the Americas hosted by President Clinton in December 1994 has given strong impetus to Western Hemisphere economic integration. This is the first comprehensive analysis of the economics and politics of a Western Hemisphere Free Trade Agreement. It has attracted considerable attention in business and policy circles throughout the hemisphere and is widely credited with having influenced the decision of the hemispheric heads of state to seek a free trade agreement by 2005. The US "sherpa" for the Summit, Assistant Secretary of State Alexander Watson, has described the book as the blueprint for US policy.The authors recommend that the NAFTA be extended to include all of the countries in the region when and as they undertake the economic and political reforms necessary to join. They develop a set of readiness indicators to assess each country's preparedness to join the NAFTA. The study approaches the subject from four perspectives: what trade issues the negotiations should cover;how the negotiations might be formally structured; what implications an agreement might hold for the multilateral trading system; and what the hemispheric agreement could mean for relations among Latin American countries and between them and countries in Europe and Asia.

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Book Data

July 1994
ISBN paper 0-88132-159-1
304 pp.

Commentaries on This Book

"... the first comprehensive review of the economic integration process in the Americas ..."

Riordan Roett
Johns Hopkins University

"... creditable and very timely work"

Paul H. Boeker
Institute of the Americas

"... useful in several ways: as a framework for thinking about the EAI; as a compendium of information; and as a theoretical structure for analysis of economic integration in general ... an excellent piece of work that deserves wide readership."

Harry Kopp
L.A.Motley and Company

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