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OECD and Trade Evnironment in Latin America

TRADE ENVIRONMENT IN LATIN AMERICA AND ROLE OF OECD

This research paper discusses recent changes in the level, composition and orientation of the trade of the nations of Latin America (Central and South America, excluding the Caribbean area) and the special role being played recently by the Organisation for Economic Co-operation and Development (OECD) in facilitating that trade expansion. With a number of exceptions, the international, including intra-regional, trade of the principal Latin American nations has expanded during the past decade, reflecting changes in the global economy and the revitalization through structural reform of domestic economies. International financial assistance and private capital flows, primarily direct foreign private investment (FDI), from the developed world have played an important role in improving the trading and balance of payments positions of the major Latin American countries. At the same time, the 'shock therapy' imposed on Latin American nations under structural adjustment policies, formally support adjustment programs (SAPs) of the International Monetary Fund (IMF) may create imbalances in domestic economies, including adverse environmental effects.

OECD has become more involved with Latin America because of rising levels of Western European trade, lending and investment there and the common interest of all the members of OECD in leveling the playing field for FDI in Latin America. OECD is playing an important role in ameliorating the current trade environment in Latin America by persuading governments in the region to remove barriers to further expansion of international trade and development.

Traditional International Trade Environment

During the era of gunboat and dollar diplomacy (the late 19th and early 20th centuries), Latin American nations served as a source of raw materials, minerals and food exports and as a market for capital exports, intermediate goods and finished...

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OECD and Trade Evnironment in Latin America. (1969, December 31). In LotsofEssays.com. Retrieved 06:36, March 28, 2024, from https://www.lotsofessays.com/viewpaper/1707256.html