In this chapter an updated version is presented of the Integration Achievement Score (IAS) that was initially designed by Hufbauer and Schott (Western hemisphere economic integration. Institute for International Economics, Washington, DC, 1994). The author expanded the scope of the original IAS in both time and space, and has systematically applied it to regional integration schemes in the Americas with data from the 2000s. Because of its systematic nature of coding integration achievements, it allows for comparisons between the regional schemes; it is also well suited for further econometric analysis. It contains six categories with six levels each. The categories are: trade in goods and services, free movement of capital, labor mobility, decision-making of supranational institutions, monetary coordination, and fiscal coordination. Moreover; the levels for each regional scheme are calculated with a set of values that range from 0 to 5. Results are presented for five schemes in the Americas (CAN, CACM, CARICOM, MERCOSUR, NAFTA) which allow for a comparison of economic integration levels.
- Economic integration