Sharma, ManuCanuto, Otaviano2012-08-132012-08-132011-09https://hdl.handle.net/10986/10076The Asian style of regional integration may be seen as a 'quasi-common economy' that eschews a formal linkup in political or monetary terms, but manages to generate similar results by strong physical integration and distributed chains of production and service delivery. This note proposes the Asian quasi-common economy as a benchmark for South America's regional integration efforts because it is a better fit than the politically driven, broad-based, European style integrative process.CC BY 3.0 IGOACCESS TO MARKETSBARRIERBENCHMARKBORDER INFRASTRUCTUREBUSINESS CYCLEBUSINESS CYCLESCARIBBEAN REGIONCENTRALIZATIONCOMMODITIESCOMMODITYCOMMODITY PRICESCOMMON MARKETCOMPARATIVE ADVANTAGECOMPARATIVE DISADVANTAGECOMPETITIVENESSCONNECTIVITYCURRENCYCURRENCY AREACUSTOMS UNIONSDEBTDEVELOPING COUNTRIESDEVELOPING ECONOMIESDIVERSIFICATION OF EXPORTSECONOMIC GROWTHECONOMIC INTEGRATIONECONOMIC OUTLOOKECONOMIC POLICIESECONOMIC STABILITYECONOMIES OF SCALEELECTRONICS INDUSTRYEXPORT COMMODITIESEXPORT DIVERSIFICATIONEXPORT INTENSITYEXPORTEREXPORTSEXTERNAL DEBTFACTORS OF PRODUCTIONFINANCIAL CRISISFINANCIAL SUPPORTFINANCIAL SYSTEMSFISCAL POLICYFOREIGN DIRECT INVESTMENTFOREIGN TRADEFREE TRADEFREE TRADE AGREEMENTSGDPGLOBAL ECONOMIC PROSPECTSGLOBAL MARKETSGLOBALIZATIONGROWTH RATESGROWTH VOLATILITYHARMONIZATIONIMPORTINDUSTRIALIZATIONINFLATIONINFRASTRUCTURE INVESTMENTINFRASTRUCTURE INVESTMENTSINFRASTRUCTURE PROJECTINSTITUTION BUILDINGINSURANCEINTERNATIONAL TRADEINTRAREGIONAL EXPORTSINTRAREGIONAL MIGRATIONINTRAREGIONAL TRADELEVERAGELIBERALIZATIONMACROECONOMIC POLICYMACROECONOMIC SHOCKSMACROECONOMIC VOLATILITYMARKET ACCESSMARKET INTEGRATIONMONETARY AUTONOMYMONETARY UNIFICATIONMONETARY UNIONMULTILATERAL DEVELOPMENTMUTUAL RECOGNITIONNATURAL RESOURCESOPENNESSOPTIMUM CURRENCY AREAOPTIMUM CURRENCY AREASOUTPUTOUTPUTSPER CAPITA INCOMEPOLITICAL ECONOMYPORTFOLIOPOSITIVE EXTERNALITIESPOVERTY REDUCTIONPRIMARY GOODSPRIVATE CAPITALPRODUCTION FUNCTIONPRODUCTION INTEGRATIONPRODUCTION STRUCTURESPUBLIC INVESTMENTREAL GDPREGIONAL DIFFERENCESREGIONAL ECONOMIC INTEGRATIONREGIONAL ECONOMIESREGIONAL ECONOMYREGIONAL INFRASTRUCTUREREGIONAL INTEGRATIONREGIONAL INTEGRATION EFFORTSREGIONAL LEVELREGIONAL MEMBERSREGIONAL PRODUCTIONREGIONAL TRADEREGIONAL TRADE ARRANGEMENTSSPATIAL DIMENSIONSSTABLE ECONOMYSTABLE GROWTHSUBREGIONSTECHNOLOGY TRANSFERTERMS OF TRADETOTAL EXPORTSTRADE BARRIERSTRADE FACILITATIONTRADE INTENSITYTRADE PATTERNSTRADE PERFORMANCETRADE RELATIONSHIPSTRANSPORT COSTSVARIANCE OF INFLATIONWAGE GAPWAGESWORLD ECONOMYWorld Bank10.1596/10076