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August 1999 - The results of a modified gravity model suggest that the new wave of regionalism has not boosted intra-bloc trading significantly. Trade liberalization in Latin America did have a positive impact on the imports of bloc members, although MERCOSUR's exports did poorly over the mid-1990s. Soloaga and Winters apply a gravity model to data on annual nonfuel imports for 58 countries for the years 1980-96, to quantify the effects on trade of recently created or revamped preferential trade agreements (PTAs). They modify the usual gravity equation to identify the separate effects of PTAs on intra-bloc trade, members' total imports, and members' total exports. They also formally test the significance of changes in the estimated coefficients before and after the blocs' formation. Their estimates give no indication that the new wave of regionalism boosted intra-bloc trade significantly. They found convincing evidence of trade diversion only for the European Union and the European Free Trade Association. For the same blocs they also observed export diversion, which would be consistent with these blocs' imposing a welfare cost on the rest of the world. Trade liberalization efforts in Latin America have had a positive impact on the imports of bloc members (Andean Group, Central American Common Market, Latin American Integration Association, and MERCOSUR). Increasing propensities to export generally accompanied increasing propensities to import, suggesting that general trade liberalization had a strong effect. The exception was MERCOSUR, for which import and export propensities displayed opposite movements, with exports performing worse than expected over the mid-1990s. Although MERCOSUR members have undoubtedly liberalized since the mid-1980s, these results suggest that their trade performance has been influenced more by competitiveness than by trade policy. This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to study the effects of regional integration. The authors may be contacted at isoloaga@worldbank.org or leavesa.winters@sussex.ac.uk.

Andean Pact --- Currencies and Exchange Rates --- Economic Policy --- Economic Theory and Research --- Exports --- Extra-Bloc Trade --- Finance and Financial Sector Development --- Free Trade --- Free Trade Area --- Geographical Patterns Of Trade --- Gravity Equation --- Gravity Model --- Gravity Models --- International Economics & Trade --- Law and Development --- Macroeconomics and Economic Growth --- Patterns Of Trade --- Preferential Trade --- Preferential Trade Agreements --- Preferential Trade Area --- Public Sector Development --- Regionalism --- Trade --- Trade Diversion --- Trade Effects --- Trade Flows --- Trade Law --- Trade Liberalization --- Trade Policy

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International economic relations --- Latin America --- Cartagena Agreement --- Andes Region --- Région des Andes --- Economic integration --- Commerce --- Intégration économique --- 351.82 <8> --- Economisch recht. Economische wetgeving. Economische reglementering. Subsidies voor het bedrijfsleven--Zuid-Amerika --- Acuerdo de Cartagena countries --- Andean countries --- Andean region --- Economic integration. --- Commerce. --- 351.82 <8> Economisch recht. Economische wetgeving. Economische reglementering. Subsidies voor het bedrijfsleven--Zuid-Amerika --- Région des Andes --- Intégration économique --- Acuerdo de Cartagena. --- Acuerdo de Cartagena --- Acuerdo de integración subregional --- Acuerdo regional andino --- Acuerdo sub regional andino --- Agreement of Cartagena --- Andean Pact --- Andean Regional Agreement --- Andenpakt --- Pacto andino --- Vertrag von Cartagena --- Andes Region - Economic integration --- Andes Region - Commerce

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The Andean Tribunal of Justice was established as part of the 1969 Andean Pact, as one of 11 tribunals modelled on the European Court of Justice (ECJ). This book examines the origins, practice, politics and theory of the court and compares it with the ECJ, showing why the two courts have developed differently.

International courts. --- Justice, Administration of --- Foreign trade regulation --- Tribunal de Justicia del Acuerdo de Cartagena. --- Cartagena Agreement --- Andes Region --- Politics and government. --- Export and import controls --- Foreign trade control --- Import and export controls --- International trade --- International trade control --- International trade regulation --- Prohibited exports and imports --- Trade regulation --- Administration of justice --- Law --- Courts --- International tribunals --- Tribunals, International --- Jurisdiction (International law) --- Law and legislation --- Tribunal de Justicia Andino --- Tribunal Andino de Justicia --- Tribunal del Pacto Andino --- Tribunal de Justicia de la Comunidad Andina --- Acuerdo de Cartagena. --- Acuerdo de Cartagena --- Acuerdo de integración subregional --- Acuerdo regional andino --- Acuerdo sub regional andino --- Agreement of Cartagena --- Andean Pact --- Andean Regional Agreement --- Andenpakt --- Pacto andino --- Vertrag von Cartagena --- Acuerdo de Cartagena countries --- Andean countries --- Andean region