Doronina N.G. Specific Features of Regulating of Economic Integration in Latin American Countries

Abstract: The article contains the analysis of the main sources of legal documents concerning integration in Latin America. Special attention is devoted to the economic integration, the example of which is Andean Common Market. The analysis of the legal basis of economic integration shows the connection between economic integration of the last decades of the 20th century and the movement to the Confederation of the States in South America under the direction of Simon Bolivar. The legal récipé of the integration in the nineteenth century became a tradition in the “American international law”. The analysis of the Montevideo and Pan American Conventions helps to explain the important Role of the legal doctrine in Latin American process of integration. The specifics of the integration process in Latin America is in its basis – strengthening process of the unification of Law. The modern technique and the forms of legal integration in Latin America are partly taken from European integration. Then enriched with the local concepts and doctrine and are aimed to resolve the inner problems of the region. The character of economic integration in Latin America exposes the enforcement of support of national business activity, the economic role of State sector in the Economy, and the development of the cooperation in the region in the form of multinational enterprises. These characters are developing greatly due to the concept that national law is the basis of regulation of the relationships with the foreigners’ participation. The example of such nationalistic concepts is the Calvo doctrine, which appeared in nineteenth century and continues to influence the investment policy of Latin American countries up till now. Calvo doctrine plays an important role in economic integration, which is the continuation of the integration movement following the fight for the independence against colonial power of European countries and for the defense of national interests, that are now also actual. The Calvo doctrine, deactivated in 90-ies, is now revived. The revival of Calvo doctrine does not object the economic integration in Latin America because the concept of unification of law in the integrated States is based on the division of jurisdiction in the international document. That means the broad range of legal methods and instruments that each integrating State may use in economic regulation. There are different examples, shown in the article, how the rules of international treaties on jurisdiction help to coordinate policies and integrate the States in their efforts to achieve economic goals and defend sovereignty. The analysis of International Treaties of the First South American Congress and of the Decisions of the Commission of Carthagena Agreement of the ANCOM countries had a great influence on local foreign investment regulation due to the basic concept of Calvo doctrine. It resulted in the principles of capital regulation and stability of integration process. The investment policy makes the foundation of economic integration. The compromise reached in international documents allows the integrated States to address the international mechanisms to resolve investment disputes. At the same time the traditional approach to the problems of jurisdiction makes it possible for the States participating in the integration process to use different instruments to defend their interests and simultaneously to search the best rules and practices to regulate business relations.

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