Macroeconomic conditions and trade liberalization / Adolfo Canitrot and Silvia Junco, editors

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Macroeconomic Conditions and Trade Liberalization in Argentina, Brazil, Chile and Uruguay: A Comparative Study /
Adolfo Canitrot, Silvia Junco Macroeconomic Conditions and Trade Liberalization: The Case of Argentina /

Adolfo Canitrot, Silvia Junco Macroeconomic Instability and Trade Liberalization in Brazil: Lessons from the 1980s and 1990s /

Regis Bonelli, Gustavo B. Franco, Winston Fritsch Trade Opening of the Chilean Economy: Policy Lessons / Patricio Meller Macroeconomic Conditions and Trade Liberalization: The Case of Uruguay Silvia Laens /

Fernando Lorenzo, Rosa Osimani

acroeconomic Conditions and Trade Liberalization examines the effects of different macroeconomic con ditions on opening up the economics of Argentina, Brazil, Chile and Uruguay.
Chile's success in stabilizing and opening its economy serves as a reference point for evaluating trade liberalization in other Latin American countries. Chile reduced its fiscal deficit to stabilize the economy, carried out far-reaching structural adjustments, liberalized labor markets, adjusted real wages to make them internationally competitive, and reduced or elimi nated tariffs or nontariff barriers to trade.
Argentina, Brazil and Uruguay were able to generate current account surpluses in their balance of payments but had difficulty in capturing domestic savings to achieve an effective transfer of resources. The studies on Argentina and Brazil emphasize short-term issues, particularly the relationship be tween openness and stabilization policies. The Uruguay study focuses in part on the effect of the MERCOSUR integration process on Uruguayan trade.
One of the book's most important conclusions is that eliminating the public sector deficit is essential to the success and sustainability of trade liberalization.
Contributors: Adolfo Canitrot, Silvia Junco, Regis Bonelli, Gustavo Franco, Winston Fritsch, Patricio Meller, Silvia Laens, Fernando Lorenzo, and Rosa Osimani.