Schott (Institute for International Economics) and his contributors examine current trade relations between US and Colombia and analyzes the likely impact of the proposed free trade agreement between the two countries, which may be congressionally ratified by the end of November 2006. Opening chapters examine bilateral trade and investment in terms of areas of trade complementarities and trade frictions, examine the "readiness" of Colombia for a free trade agreement in terms of indicators of economic and political stability, and quantitatively analyze trade and welfare impacts on both countries using applied general equilibrium and gravity models. Three chapters focus on key issues of contention: agriculture, labor, and intellectual property rights. The concluding chapter reviews the implications for broader hemispheric trade integration. Annotation 2007 Book News, Inc., Portland, OR (booknews.com)
