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Applying market arbitrage theory on daily data, we measure the empirical financial market convergence of NAFTA’s financial markets since 1994. Radar diagram and wavelet multi-resolution analysis (MRA) scalogram movies of the statistical moments of the term interest rate differentials visualize the multidimensional convergence. From the radar movies, we find: 1) a uniform disappearance of the average forward premia; 2) a non-uniform decline of bilateral financial market risk; 3) variation of bilateral financial market pressure measured by skewness; and 4) emergence of uniform market microstructures as measured by vanishing excess-kurtosis. From the MRA movies, we find that the national term structures of interest rates converge, since the stochastic resonance coefficients of the interest rate differentials lose significance: market energy at all frequencies dissipates into “white noise.” Testing Obrimah, Prakash and Rangan’s (2009) Lemma, we find that, after 2002, higher financial flow pressure is a necessary condition for lower financial market risk. / vii, 67 leaves ; 29 cm

After promoting in the 1970s a more egalitarian international trade system, developing countries abandoned the prospects of finding an alternative route to their development and have massively participated in the Uruguay Round. Results have been disappointing, and developing countries, particularly in the Latin American-Caribbean (LAC) region, are now also pursuing economic integration at the regional level. The 1990s have in fact been characterised by the general revival of regionalism, a trend considered by many legal scholars and economists as dangerous for multilateralism. The debate is ongoing, and the WTO is currently attempting to better monitor the impacts of regionalism. In any case, regional integration agreements (RIAs) are now present in all parts of the world, and developing countries seem to consider that such arrangements offer promising opportunities than lack in multilateral agreements. More particularly, LAC countries are now pursuing economic integration at the bilateral, subregional, regional and even hemispheric level with the current negotiations for a Free Trade Area of the Americas (FTAA). But the creation of a FTAA faces many obstacles, caused by wide disparities in the level of economic development within the region and the incredible variety of existing RIAs throughout the Hemisphere. And it remains to be seen if equity and social concerns will be better reflected in a regional agreement than at the multilateral level.

This thesis explores the marketing of American capital goods in the Latin American Free Trade Association (LAFTA).The Importance of capital goods to LAFTA development was discussed. Machinery used for the production of other products is Important since LAFTA must achieve self-sufficiency by providing products manufactured in LAFTA before a common market is established.The problems of regional Integration were analyzed. These problems must be resolved If the common market Is to be functional by 1985. This date was established at Punta del Este, Uruguay, In 1967 by the chief executives of all Latin American nations.'In order to determine how American firms are preparing for the Latin American common market a mailed questionnaire was sent to 100 manufacturers of seven categories of capital goods. The 42 responses were analyzed to determine if American manufacturers are preparing for regional integration.The conclusion is that American firms are not confident that there will be a Latin American Common Market and they are not actively assisting LAFTA nations to achieve self-sufficiency.

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Orientador: Fernando Cézar de Macedo Mota / Dissertação (mestrado) - Universidade Estadual de Campinas, Instituto de Economia. / Made available in DSpace on 2018-08-17T19:35:56Z (GMT). No. of bitstreams: 1 Costa_DanieldeOliveiraNery_M.pdf: 7429320 bytes, checksum: 0364a06c994f283bb67fb2f7ae094d7b (MD5) Previous issue date: 2011 / Resumo: Este estudo procura estabelecer uma relação entre as transformações no sistema econômico internacional e a organização dos espaços nacionais, apontando o papel da infraestrutura como elemento mediador desse processo. Será destacada a discussão dos efeitos da estruturação do território brasileiro em um período de maior liberalização econômica e maior integração internacional, tomando como objeto o caso particular da IIRSA, colocando esse novo contexto sob sua perspectiva histórica e demonstrando sua coerência com os imperativos da acumulação globalizada / Abstract: This study seeks to establish a relation between the changes in the international economic system and the organization of national spaces, pointing the role of infrastructure as the mediatory element of the process. There will be a highlight over the discussion about brazilian's territorial economic structuring in times of greater economic liberalization and international integration, taking as direct object the specific case of IIRSA, putting this new context under its proper historic perspective and explaining its coherence with the needs of global accumulation / Mestrado / Desenvolvimento Economico, Espaço e Meio Ambiente / Mestre em Desenvolvimento Econômico

La présente thèse a pour objet l’étude du régionalisme. Ce dernier se réfère ici à des régions mondiales constituant une dimension médiane entre le niveau étatique et le système mondial. Notre analyse porte donc sur les nouvelles expériences régionales qui ont émergé dans le contexte de la globalisation néolibérale et de la post-guerre froide. Le régionalisme est analysé en tant qu’objet des relations internationales et l’étude de cas choisi est celui du régionalisme latino-américain, et plus précisément le Marché commun du Sud (MERCOSUR). Une importante partie des travaux consacrés à l'explication du régionalisme partent d'une approche essentiellement endogène accordant une attention distraite aux déterminants exogènes. Pour comprendre la nature du nouveau régionalisme, il faut le situer dans une perspective globale qui tient compte de l’interrelation entre les niveaux national, régional et global. Bien que le régionalisme renvoie à des logiques internes propres, le phénomène est fortement conditionné et façonné par l’extérieur du fait qu’il évolue en interaction directe et constante avec le monde économique et politique international, et qu’il fait l’objet de politiques menées par des acteurs dominants de l’arène mondiale. Les déterminants extérieurs sont donc essentiels pour comprendre l’évolution du régionalisme. Dès lors, la thèse se propose de répondre à la question suivante :comment et en quoi la nature et l’évolution du régionalisme se trouve façonnée par le cadre exogène et comment ce dernier interagit avec les facteurs d’ordre interne ?Pour répondre à cette question il convient de resituer le MERCOSUR dans le cadre du triangle atlantique (Amérique du Sud/Union européenne/Etats-Unis) qui lui-même doit être placé dans le contexte plus large de la globalisation néolibérale. / Doctorat en sciences politiques / info:eu-repo/semantics/nonPublished