Integration in Latin America: centripetal and centrifugal trends

Abstract

Latin American countries were the first in the developing world on the path of economic integration. In the region, back in the early 1960’s were created the integration groupings, with the aim of strengthening trade ties between the neighboring States and their position in the world economy. As a result, the integration process has been going on for about six decades, transforming the economies of Latin America. Integration largely determines the main vectors of development of foreign trade relations, affects the direction of cross-border investment flows, strengthens corporate relationships and the emergence of various forms of production cooperation, stimulates scientific and technological cooperation, “pushes” the countries of the region towards closer political interaction. At the same time Latin American integration appears a complex and contradictory phenomenon, its history has known periods of high activity and long pauses, reversals, attempts by individual States to revise the rules of the game, receive unilateral benefits. In recent years, the integration process in Latin America acquires new features and characteristics, increasing its importance for the social and economic future of the region.