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Economía UNAM

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MOSLARES GARCIA, Carlos; RAMIREZ ROMA, Xavier  and  REYES, Gerardo. Are the countries of the Central American Common Market ready for a deeper regional integration?. Economía UNAM [online]. 2011, vol.8, n.22, pp.74-100. ISSN 1665-952X.

The authors analyze some criteria and variables described in the literature on Optimum Currency Areas in order to evaluate the degree of readiness shown by the partners of the Central American Common Market (CACM) to go more deeply into their process of regional integration. In this paper the behavior of different criteria and macroeconomic variables related to the productive structure, the financial sector or the external sector, are studied to appreciate the level of optimality of the CACM as a currency area. The preliminary results suggest the CACM operates as a Customs Union but it does not fulfill the requirements to become, in the immediate future, a currency area.

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