00791nam a2200121Ia 4500 20260716043331.0 CACERES, Luis Rene Central American integration: its costs and benefits. 1994 Identifies increased economic growth, industrialization based on intra-industry trade, and greater competition in a broader subregional market as significant benefits of economic integration for Central American countries. Costs of integration stem from the inter-country monetary flows occasioned by currency arbitrage, currency substitution, and the high transaction costs associated with inconvertibility. Calls for the establishment of coordination schemes that reach beyond the realm of macroeconomic policy. 3/7/00 M2LMGR A 45086 45086