This paper analyzes the outlook for Latin American economic integration at three interrelated levels: multilateral, hemispheric and sub-regional. At the multilateral level, it argues that the WTO is not prepared to regulate the competition patterns engendered by the information revolution, and...

Recent integration efforts have been hampered by the inconsistency of macroeconomic policies. In this paper a model of shared sovereignty is discussed. Special emphasis is given to the exchange rate as a means to achieve macroeconomic stability