A regional arrangement proposal for the UNASUR

Vol. 34 No. 3 (2014)

Jul-Sep / 2014
Published July 1, 2014

How to Cite

Ferrari Filho, Fernando. 2014. “A Regional Arrangement Proposal for the UNASUR”. Brazilian Journal of Political Economy 34 (3):413-32. https://doi.org/10.1590/0101-3157-2014-2356.

A regional arrangement proposal for the UNASUR

Fernando Ferrari Filho
Full Professor of Economics at the Federal University of Rio Grande do Sul and Researcher at CNPq.
Brazilian Journal of Political Economy, Vol. 34 No. 3 (2014), Jul-Sep / 2014, Pages 413-432


The article analyses the current process of economic integration in South America. Thus, concentrating our attention on the UNASUR regional integration process, two questions arise: First, is UNASUR the most viable institution to achieve a consistent economic integration process in South America? Second, what model of economic integration should be adopted in the case of UNASUR, which would ensure macroeconomic stability and avoid financial and exchange rate crises in the South America? To answer these questions, the article proposes, based on the Keynes (1944/1980)’s revolutionary analysis presented in his International Clearing Union, during the Bretton Woods Conference in 1944, a regional arrangement to UNASUR.

JEL Classification: F5; F55.

Keywords: economic integration South America Keynesian theory