Abstract
In this chapter the authors cover the modern economic history of trade, with an explicit focus on the Latin American experience. A historical view is taken of Globalization’s successive waves, and how trade has affected prosperity, human development, and relative peace. The political economic history of Latin America is briefly treated, discussing the rise and fall of the import-substitution-industrialization (ISI) model in Latin America, the historically protectionist outlook of Latin American regional trade pacts, and the failure to arrive at true economic integration. As a comparative referent, the Asian experience with protectionism and export-led-growth models is used to explain the inspiration behind the Pacific Alliance.
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Spillan, J.E., Virzi, N. (2017). The Modern Economic History of Trade. In: Business Opportunities in the Pacific Alliance. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-54768-8_3
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DOI: https://doi.org/10.1007/978-3-319-54768-8_3
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