North American Economic Integration

A study of North American economic integration. Rather than simply focusing on the immediate reasons for the negotiation of NAFTA, it places this agreement in a larger historical context. The evolution of trade theory is discussed and then related to the development of trade policy. This highly accessible book explains the theoretical, historical and political background of the North American Free Trade Agreement (NAFTA), its impact and the debates surrounding its existence. In addition the authors provide a brief introduction to the theory of economic integration as well as a succinct overview of the evolution of the global economy, and the institutions that manage it, in the post World War II period. Key issues examined include: how and why NAFTA emerged in the early 1990s and its performance since implementation the economic development and commercial policy of each member country in the context of the rapidly changing global economy NAFTA's technical strengths and limitations the debates which still rage between its proponents and critics The team of US, Canadian and Mexican authors argue that while NAFTA has introduced novel social and environmental innovations in trade agreements, given Mexico's macroeconomic volatility, it provides a less than perfect approach for managing North America's rapidly expanding economic integration. North American Economic Integration can be used by a wide audience from students to professionals and academics from any discipline with an understanding of the basic principles of economics. Specifically, the book will be welcomed by students of international economics, political economy and international relations.