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Over the past decade, international economic liberalization has been pursued through both multilateral and regional arrangements. In the Uruguay Round, more than one hundred governments pledged their commitment to greater open trade in goods and services, and established new rules under the enforcement of the World Trade Organization. At the same time, however, many regional arrangements have been negotiated--including the European Union and the North American Free Trade Agreement. Nonetheless, controversy still rages about these arrangements. Are regional arrangements stumbling blocks or, in fact building blocks for a more integrated and successful international economy? In this book, Robert A. Lawrence addresses this question and explains both sides of the debate. A volume of Brookings' Integrating National Economies Series.

"Trade agreements have uncontested relevance as essential instruments governing international trade, yet little attention has been directed towards explaining differences in their content. Deep Integration in Latin American Trade Agreements analyzes the structure, nature, and characteristics of deep integration in trade agreements established by Latin American countries after the crises of 1982 and until 2020 with their regional and extra-regional partners. Ninfa M. Fuentes Sosa argues that deep integration can be disaggregated into its institutional, operative, and horizontal dimensions (which differ regarding their functions and application level). Empirically, she demonstrates that trade provisions can be mapped, measured, and allocated into their corresponding dimension, providing an understanding of the deep integration structure in Latin America. She claims that the current structure poses challenges for deepening regionalism at a broad scale. Countries working on specific areas over time could diminish obstacles that have prevented them from achieving deeper trade integration. Providing an operational definition and measures of deep integration, this book will be of great interest to scholars, graduate students, and policymakers working in the field of international political economy, trade and trade politics."

Relative to their economic sizes, structures and linkages, the bilateral relationship between Canada and India is too small. Trade and foreign direct investment (FDI) flows are gradually increasing within such sectors as finance, energy, power and environmental services, agriculture and information technology (IT) services. Two channels are identified to expand this economic footprint: deeper linkages among bilateral business groups to reduce Canadians' transactions costs relative to those in the United States (US) market; and improved market access for India's competitive low-cost producers. Governments, which focus primarily on incremental improvements, should elevate the bilateral relationship to a strategic level with the negotiation of a free trade agreement (FTA). Although each government prefers the World Trade Organization (WTO) as the venue for liberalising agricultural trade, it is argued that a services-only FTA would yield mutual gains by removing many of the restrictions affecting both domestic markets and foreign entrants in the two countries revealed by the comparative analysis in this paper.

This open access book explores the impact of deep regional economic integration on spillovers of knowledge and technology across countries. Deep integration through signing deep regional trade agreements (DRTAs), which cover various policy areas in addition to tariff reductions, may or may not facilitate technology spillovers among their signatories. To understand the mechanism of the impact of deep integration on technology spillovers, this book starts by analyzing the behavior of global firms. Factors that affect global firms' activities, such as export, foreign direct investment (FDI), offshore outsourcing, are examined. Micro data on Japanese firms are employed for the analysis. Then, the relationships between bilateral trade patterns and technology spillovers and between types of FDI and technology spillovers are investigated in detail. Patent citation data are used to measure technology spillovers. Finally, the impact of DRTAs on international technology spillovers is analyzed. This book is highly recommended to readers who are interested in the effects of deep regional integration, including academic scholars, policymakers, and graduate students.

Preface -- About the Authors -- Chapter 1 Introduction and Overview -- Chapter 2 The Trend of Deep Regional Integration -- Chapter 3 Which Aspect of Firm Performance is Important for the Choice of Globalization Mode?.-Chapter 4 Does Tobin's q Matter for a Firm's Choice of Globalization Mode? -- Chapter 5 Trade Patterns and International Technology Spillovers: Theory and Evidence from Japanese and European Patent Citations -- Chapter 6 Vertical versus Horizontal Foreign Direct Investment and Technology Spillovers -- Chapter 7 Do Deep Regional Trade Agreements Enhance International Technology Spillovers? Depth, Breadth, and Heterogeneity -- Chapter 8 Conclusion and Policy Implications -- References.