Since its creation by the Treaty of Asuncion in 1991, the regional trade association of MERCOSUR has been plagued by financial crises in its member states. Yet it continues, albeit slowly, to meet its objectives. To its four full members (Brazil, Argentina, Paraguay, and Uruguay) it has already added Chile and Bolivia as associate members, and continues its negotiations with the Andean Community and even with Mexico. This book by a leading authority on the subject is the first full-length analysis of the viability of MERCOSUR as an effective engine of economic development. Drawing on vast...