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Trade Intensification in the Central American Common Market

Published online by Cambridge University Press:  02 January 2018

G. Christou  and
W. T. Wilford
G. Christou
Affiliation:
Economics Department, Louisiana State University, Lake Front, New Orleans, Louisiana 70122
W. T. Wilford
Affiliation:
Economics Department, Louisiana State University, Lake Front, New Orleans, Louisiana 70122
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Extract

The movement toward regional integration is one of the more important features of international economic relations between developing nations during the past decade, and none has been more ambitious in the developing world than the attempt of the five countries of Central America to band together in the Central American Common Market (CACM). The CACM was a dominant force in Central American economic development throughout the decade of the 1960s, and sufficient data are now available to make preliminary judgments about the effects of economic integration upon the intra- and extraregional trade patterns of the isthmus.

The model used in the ensuing analysis is similar to the one postulated by Savage and Deutsch (1960) and Goodman (1963: 197), and is a useful step in preliminary analysis of flow data such as trade flows among countries. The model does not seek to explain such flows, but rather to adjust them or remove the effect of the trade-size factor.

Type
Research Article
Information
Journal of Interamerican Studies and World Affairs , Volume 15 , Issue 2 , May 1973 , pp. 249 - 264
Copyright
Copyright © University of Miami 1973

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References

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