Uma análise comparativa nas integrações econômicas da União monetária Européia e Mercosul

Abstract

The main goal of this master dissertation is analyzing the economical integration between Mercosur and European Monetary Union. The methodology selected is descriptive statistics using secondary data, which are related to growth rate, unemployment rate, inflation as well as exchange rate in order to evaluate the deviation and correlation among these variables in the economical integration. From 1999 to 2011 the results have shown significantly volatility in the Mercosur’s economies. The observed flotation on growth rate, employment, prices as well as exchange rates were minimally correlated within Mercosur’s region and the correlation level from 2000 to 2011 were lower than the nineties. The results indicated a lower grade of economic openness in the European Union and slightly better in the Mercosur during 2000- 2011 period, indicating higher costs to abandon the domestic cambial policy and commence in a monetary union; the sectorial diversification in 2011 was verified in both economies and the full labor mobility still is a distant reality for economic integration considering the lower mobility presented by European Union and the reduction of South American immigrants in the Latin bloc. The Mercosur has presented regression regarding restrictive measures adopted by the participating countries and the obstacles to implement the free circulation of goods and services among the countries. In the European Union, the convergence criteria have not been systematically fulfilled bythe countries, which adhered the monetary unification in the year of their admission. This flexibility in the monetary convergence in the European Union remains until nowadays, because the European economies could not retrieve from the financial crisis.