The paper considers the extent to which trade liberalization, de-regulation of economic activity, privatization of public assets and more careful management of macroeco-nomic aggregates, are affecting Latin America. The background, set in import substituting industrialization, has given way to...

Market-oriented structural reforms were implemented in Latin America under the expectation that the transition from an "inward-oriented", "state-led" growth strategy to one which was more "market-led" and "outward-oriented" was going to be rewarded by a sustainable long-term improvement in the...