The researchers studied how regional trade agreements affected trade in the 1990s. They analyzed data from 58 countries between 1980-1996 using a special model. Results showed that new regional trade agreements did not greatly increase trade within the blocs. The European Union and the European Free Trade Association showed evidence of trade diversion. Countries in Latin America benefited from trade liberalization efforts, especially with increased imports. Generally, when countries imported more, they also exported more, suggesting trade openness had a positive impact. However, MERCOSUR's exports didn't do as well as expected, pointing to competitiveness playing a bigger role than trade policies in their trade performance.