FINANCIAL INTEGRATION IN THE PACIFIC ALLIANCE: THE MILA CASE
DOI:
https://doi.org/10.5380/cg.v7i1.56361Abstract
The Pacific Alliance emerged in 2011 with the purpose of being a regional integration bloc that ensures the international trade flows and a greater linkage to the Asian-Pacific region. The Pacific Alliance ensures the open regionalism, a regional integration strategy of the 1990s based on market opening and trade liberalization. Regarding the financial dimension of regional integration, a main goal is the integration of stock exchanges through the Latin American Integrated Market (MILA). Therefore, this paper questions how the Pacific Alliance approached the financial aspect of regional integration and to what extent MILA has contributed to the objectives established by the bloc from 2011 to 2016. The methodology used in this paper required the specialized bibliography on regionalisms, regional integration and financial integration, and also the qualitative and inductive analysis of the documents from the Pacific Alliance Summit and the MILA reports – the information collected was about the financial integration and the relationship between these two institutions. We noted that were an increasing cooperation between the Pacific Alliance and MILA, which has collaborated to achieve one of the Pacific Alliance main goals.
Key words: The Pacific Alliance; open regionalism; financial integration; MILA; Latin-American regionalisms.
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