Regional integration initiatives have long been part of the world economic lanscape. In Latin America, integration flourished in the early post-war era but then lost momentum until the 1990s, when there was a new wave of initiatives ranging from free trade areas to customs unions.

This Report examines such dimensions of integration as market access, institutional arrangements, regional infraestructure, financial integration, and macroeconomic and exchange rate coordination. It also looks at the effects on productivity, foreign direct investment and inequality. Other topics include the configuration of subregional integration initiatives, the Doha multilateral trade agenda, and North-South initiatives such as the Free Trade Area of the Americas and inter-regional agreements with the European Union.