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date: 04 December 2020

Abstract and Keywords

This chapter notes that a strong focus of the development literature has been on the role of the trade policy regime in growth, and more broadly on the link between liberalization and growth. Country performance in relation to these issues has been the subject of controversy for well over a century. The chapter reviews the path taken in a stylized fashion, aiming to show interconnectedness as well as the most significant ways in which the region participates in the trade system. It considers import substitution to liberalization; regional integration; and the global trade regime.

Keywords: trade system, country performance, global trade regime, import substitution, regional integration, Latin America

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