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Does North America Have The Right Stuff? An Analysis Of Compatibility And The Potential Deepening Of North American Integration, Gaspare Genna Feb 2011

Does North America Have The Right Stuff? An Analysis Of Compatibility And The Potential Deepening Of North American Integration, Gaspare Genna

Departmental Papers (PS)

This article assesses the current and future levels of North American integration. Econometric models that compare integration around the world indicate that integration deepens when countries have similar domestic, political, and economic institutions, and are economically asymmetrical. It is theorized that similar domestic institutions reduce transaction costs and uncertainty of success for firms while economic asymmetry provides incentives for and coordination among member states. In addition, institutional homogeneity also affects the level of integration. Currently, the North American partners lack high levels of these conditions, which explains the low level of integration. The analysis concludes with policy recommendations to improve …


Central Bank Independence In Words And In Deeds: Lessons From Brazil And Chile, Taeko Hiroi, Douglas Block Jan 2010

Central Bank Independence In Words And In Deeds: Lessons From Brazil And Chile, Taeko Hiroi, Douglas Block

Selected Works Temporary Series

Political independence of the central bank is considered to bring financial stability to a nation and therefore to foster economic growth by providing safe investment environments. However, granting a central bank autonomy is politically contentious because of the implications such independence will entail for politicians in terms of their ability to influence monetary policy. This chapter analyzes central bank independence in words and in deeds. The first part discusses the existing literature on central bank independence and problems associated with its measurement. The implications of this debate are analyzed with two Latin American countries, Brazil and Chile. In Brazil, the …


The Small N Methodological Challenges Of Analyzing Regional Integration, Gaspare Genna, Philippe Delombaerde Jan 2010

The Small N Methodological Challenges Of Analyzing Regional Integration, Gaspare Genna, Philippe Delombaerde

Selected Works Temporary Series

As the number of regional integration organizations increases, the attention to case selection in small-N qualitative analysis becomes more necessary in order to avoid selection biases that could produce results with doubtful generalizations. This paper addresses the problem of selecting cases and offers solutions to potential pitfalls in research. First we examine various research designs in qualitative methods and discuss the problems of selecting observations on the dependent variable. We next discuss the operational definition of regions. In order to select from a population of observations, it is important to understand what is and what is not included. Finally, a …


Central Bank Independence In Words And In Deeds: Lessons From Brazil And Chile, Taeko Hiroi, Douglas Block Jan 2010

Central Bank Independence In Words And In Deeds: Lessons From Brazil And Chile, Taeko Hiroi, Douglas Block

Departmental Papers (PS)

Political independence of the central bank is considered to bring financial stability to a nation and therefore to foster economic growth by providing safe investment environments. However, granting a central bank autonomy is politically contentious because of the implications such independence will entail for politicians in terms of their ability to influence monetary policy. This chapter analyzes central bank independence in words and in deeds. The first part discusses the existing literature on central bank independence and problems associated with its measurement. The implications of this debate are analyzed with two Latin American countries, Brazil and Chile. In Brazil, the …