Abstract
By providing over $24 billion in foreign assistance to 154 countries, the United States was the largest economic and humanitarian aid donor in the world in 2008 (Schaefer, 2006; Tarnoff & Lawson, 2009). By viewing the U.S. government through this lens, U.S. free trade agreements (FTA), like U.S. foreign aid, assist economically-weaker countries to develop while advancing specific U.S. foreign policy initiatives. By analyzing NAFTA’s effects on Mexico’s economic growth and the provisions of the signed U.S.-Colombian Free Trade Agreement, this paper demonstrates the inefficiencies and unintended consequences of multilateral and bilateral FTAs. The analysis concludes by suggesting an alternative approach to proactive and productive economic development: regional economic FTAs. Keywords: free trade agreement (FTA), tariff, economic development program, foreign direct investment (FDI), internally displaced persons (IDPs), bilateral FTA, multilateral FTA, regional FTACopyright for articles published in this journal is retained by the authors, with first publication rights granted to Vanderbilt Undergraduate Research Journal under a Creative Commons Attribution-Noncommercial-ShareAlike 4.0 International License (linked here). By virtue of their appearance in this open access journal, articles are available for wide dissemination at no cost to readers, with proper attribution (acknowledgment of the work's authorship and initial publication in this journal), in educational and other non-commercial settings. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process.
Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository, in a journal or publish it in a book), with an acknowledgment of its initial publication in this journal. However, for undergraduates authoring a manuscript under the guidance of a faculty member or research mentor, we strongly encourage the student to discuss with the faculty mentor and the Editor if prior publication in the Vanderbilt Undergraduate Research Journal will constrain future publication efforts in professional journals. To this end, all authors must submit a signed mentor consent form at the time of submission..