Commercial Multilateralism and South American Industrial Development: a panel data analysis

Resumo

This paper analyzes the impact of some variables in the aggregated value of the manufacturing industry in South American nations, with an emphasis on the degree of trade openness, using panel method under the fixed and random effect, since, intense discussions occur regarding the purposes of trade multilateralism and its impacts in South American countries. Therefore, even if trade liberalization is a positive factor to developed nations, given their obvious economic advantages, the same is not true with the South American economies. Thus, it becomes imperative a convergence block to better serve the interests of the economic development of the South American countries.