The Impact of the 1990s International Crises on MERCOSUR

Abstract

In the 1990’s the international instability with origin in the crises of Mexico, Asia and Russia, affected all the partners of the MERCOSUR. the devaluation of the Real in 1999 and the Argentine crisis of 2001 were serious obstacles for the sustainability in the long term of the integration process. the effects were reflected in trade, intra and extra region, capital flow and foreign debt. the aim of this work is to explain the process and how the effects were continued in subsequent years.