A CROSS‐SECTIONAL STUDY OF THE EFFECTS OF LAFTA AND CACM ON LATIN AMERICAN TRADE

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Abstract
SUMMARY: To summarize briefly, the study results showed that neither CACM nor LAFTA have had a significant trade diversion effect on the trade of other Latin American countries, but that both communities have had a statistically significant effect on member country trade. The results showed that the GTC of CACM has increased progressively throughout the integration period 1961–67. On the other hand, while the LAFTA countries showed a persistent growth in GTC from 1963 through 1966, the GTC process was brought to a halt in 1967, presumably as a result of the delay by the member countries in negotiating the second phase of the Common Schedule.

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