Latin American Journal of Trade Policy 2023-04-28T21:43:07+00:00 Federico Rojas de Galarreta Open Journal Systems <p>The Latin American Journal of Trade Policy is an official publication of the Institute of International Studies of the University of Chile. Following an open access policy, the full version of the journal, and individual papers, will be available on-line free of charge.</p> <p>The Latin American Journal of Trade Policy (LAJTP) focusses on trade policy issues in Latin America from a multidisciplinary perspective. A particular aim of the journal is reduce the gap between academia and policymakers. As such, the journal encourages paper submissions on topics related to trade policy formulation, implementation and evaluation; international trade agreements and their impact, including WTO issues and preferential trade agreements; Latin American regional integration processes; and, bilateral trade and investment relations both between Latin American countries and with overseas economies.</p> <p>The journal is interested in publishing papers that draw policy relevant conclusions from academic research, that confront theoretical models with the Latin American experience and that use the specific regional experiences to develop new models. Particular consideration is given to empirical articles using quantitative, qualitative, or a mixed methods approach.</p> <p>We encourage the submission of articles that:</p> <ul> <li class="show">contribute to existing knowledge of trade policy making in Latin America;</li> <li class="show">develop and advance pertinent theories to the region;</li> <li class="show">deal with the gap between academia and policy making;</li> <li class="show">utilize quantitative, qualitative, and mixed method approaches.</li> </ul> <p>All correspondence regarding academic or formal aspects, or any other request related to the Journal, should be addressed to:</p> <p><strong>Editorial Team:</strong> <a href=""></a></p> <p><strong>Twitter:</strong> <a href="">@latin_iei</a></p> Beyond crisis: multilateralism in the World Trade Organization in the second decade of the XXI century 2022-08-09T19:25:12+00:00 Julieta Zelicovich <p>The aim of this paper is to analyze the dynamics of performance of the World Trade Organization in the second decade of the twenty first century, as a multilateral institutionalized cooperation mechanism. While academic literature has emphasized the ‘crisis’ and deficits of this Organization in this work we argue in favor of a perspective that acknowledges a complete assessment of the processes that take place in this area of International Relations. Thus we propose to conceptualize the performance of the WTO from the perspective of multilateralism, identifying a triple process where there are elements of weakening, but also power disputes and pragmatism. The paper presents evidence to support how these three features of multilateralism at the international trade regime affect the main functions of the WTO: legislative, administrative and dispute resolution. The findings reaffirm the relevance of a non-binary approach to multilateralism that goes beyond the notion of crisis/non-crisis; and advance in the recognition of a more complex conceptualization of multilateralism as an expression of international order. In addition, the results encourage the specific research on the participation and influence dynamics of the actors with less relative power, that become visible in this broaden narrative of the WTO functioning.</p> 2023-04-28T00:00:00+00:00 Copyright (c) 2023 Julieta Zelicovich Constitutional visions of the World Trade Organization: between development, the free market, and marginality. The case of Colombia 2023-01-11T14:56:56+00:00 Juan Felipe Parra Rosas Alexandra Cumbe Figueroa Diego Andres Jaramillo Vargas <p>This article analyzes the background rule used by the Colombian Constitutional Court when it mentions and operates the World Trade Organization (WTO) sources in its rulings. We examined in the light of two conceptual frameworks: "the Synthesis of the 20th Century" and the "fundamental rules that condition the resolution of a case." To do this, through the jurisprudential review methodology, we analyzed 60 constitutionality rulings handed down by the Colombian Constitutional Court between 1995 and 2022, in which there was a direct mention of the WTO. Within this search, we found that of the 60 rulings, only 19 mention the WTO in their central reasoning or use some of its sources or regulatory considerations to support the decisions made. In our findings, we find that the mention of the WTO is used by the Court to justify and constitutionally support the free market that, under the premise of an absence of exercises of power, is understood as an economic project that promotes and strengthens social and economic development of the States.</p> 2023-04-28T00:00:00+00:00 Copyright (c) 2023 Juan Felipe Parra Rosas, Alexandra Cumbe Figueroa, Diego Andres Jaramillo Vargas Heterogeneous Effects of Monetary Policy on Industries: Evidence from Publicly Traded Firms in Peru 2022-07-28T05:56:46+00:00 Carlos Chavez <p>This paper studies the effects of a monetary policy shock on the industry’s profitability through publicly traded firms in Peru. I use a monetary policy shock that controls the possible endogeneity between the monetary policy with the economic activity and the Central Bank’s anticipation of economic events. I use two profitability measures: ROA and Net Profits. The methodology is Local Projections (LP) because it allows for control of the persistence of monetary policy shocks; in case of biases, it is usually smaller than the traditional methodologies used, such as vector autoregressive (VAR), and because Local Projection is parsimonious. The results I find are heterogeneous and differentiated in terms of quantification and persistence for those dependent variables through industries. These results suggest the existence of a strong credit channel in the transmission mechanism of a monetary policy shock.</p> 2023-04-28T00:00:00+00:00 Copyright (c) 2023 Carlos Chavez Chinese MSMEs internationalization in Latin American markets under the Belt and Road Initiative 2022-11-27T07:21:08+00:00 Joaquín Estrader Esteban Zottele <p><span style="font-weight: 400;">Micro, small, and medium enterprises (MSMEs) is an essential topic for business research and development policies. By reviewing previous literature and macroeconomic data, and following a deductive method, this study explains MSMEs' contribution to national development, that is, a positive effect in terms of employment, regional economies, technological innovation, andincome distribution. In addition, we focus on Chinese MSMEs' internationalization and competitive advantages in Latin American markets as a natural extension of the 21st Century Maritime Silk Road. Additionally, we explain the essential role of the Belt and Road Initiative in Chinese companies’ internationalization, particularly in building a platform for MSMEs operations in Latin America and the Caribbean. After conclusions we suggest further research directions.</span></p> 2023-04-28T00:00:00+00:00 Copyright (c) 2023 Joaquín Estrader, Esteban Zottele The underlying factors and the probability of Peruvian sanitary and phytosanitary measures notifications of the agricultural sector to the WTO 2023-01-20T13:25:25+00:00 Marcelo Alonso Valverde Arevalo Previously, a series of determinants of the sanitary and phytosanitary regulatory activity have been identified, such as scientific and legal capacities, national production, among others. Although the main determinants are oriented towards regulatory matters, it is not possible to discard that sanitary and phytosanitary measures are used as barriers to trade. In the case of Peru, being one of the WTO Members that has issued a major number of notifications, the underlying factors related to this kind of measure have not been previously analyzed. In this sense, through Probit and Logit models, it has been possible to identify the factors that affect the probability of Peruvian sanitary and phytosanitary notifications. The results indicate that, contrary to what was expected, in the Peruvian case, the increase in scientific and legal capacities would generate fewer sanitary measures. This would suggest that this country applies more measures than necessary, that could be used as barriers to trade. 2023-04-28T00:00:00+00:00 Copyright (c) 2023 Marcelo Alonso Valverde Arevalo Global Activity in the field of Safeguard Measures in 2022. Stocktaking in the light of notifications made to the WTO Committee on Safeguard 2023-04-28T21:30:17+00:00 Fernando Piérola-Castro Overview of global activity regarding the conduct of safeguard investigations and the imposition or extension of safeguard measures during the year 2022, in light of notifications made by WTO members in that year. 2023-04-28T00:00:00+00:00 Copyright (c) 2023 Fernando Piérola-Castro