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Journal of Economic Integration 2017 September;32(3) :558-585.
DOI: https://doi.org/10.11130/jei.2017.32.3.558
Understanding the Determinants of Economic Integration in Latin America
Laura Márquez-Ramos
Luis Marcelo Florensa and 
María Luisa Recalde 
Institute for International Trade- University of Adelaide, Australia/Department of Economics and Instituto de Economía Internacional- Universitat Jaume I, Spain
Instituto de Economía y Finanzas- Universidad Nacional de Córdoba, Argentina
Instituto de Economía y Finanzas- Universidad Nacional de Córdoba, Argentina
Corresponding Author: Laura Márquez-Ramos ,Tel: +34 964 728592, Fax: +34 964 728591, Email: lmarquez@eco.uji.es
Copyright ©2017 Journal of Economic Integration
ABSTRACT
When signing or enhancing trade agreements with Latin America, political and institutional factors play a more important role at present compared with their role in the past. In addition, a better institutional framework increases covered and legally enforceable provisions in Latin America trade agreements. This paper analyzes the determinants of economic integration in Latin America and the institutional quality of signed trade agreements with this region. By focusing on both a discrete choice and a linear framework, the study results prove that economic, geographic, institutional, and political factors influence economic integration. This is because these aspects are key elements in the formation and enhancement of trade agreements both within and outside Latin America. This study considers the role of additional exogenous political facts, such as the September 11 attacks in New York City, and the Revolución Bolivariana, a leftist movement in Venezuela, which affected economic integration in Latin America.

JEL Classification
F14: Empirical Studies of Trade
F15: Economic Integration
F50 : General
Keywords: Trade Agreements | Latin America | Institutional and Political Factors | Institutional Quality
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