Abstract
Mercosur is an ambitious economic integration project, launched in 1991, which includes Argentina, Brazil, Paraguay and Uruguay. The early and quasi-complete liberalization of intra-regional trade and the adoption of a common external tariff by 1996 were accompanied by significant increases in intra-regional trade. However, the most difficult and challenging steps towards a common market (its original objective) has been slow since then, in part due to the absence of strong regional institutions.
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Olarreaga, M. (2018). Mercosur. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_2563
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DOI: https://doi.org/10.1057/978-1-349-95189-5_2563
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