1945

More than two decades have already elapsed since the first attempts were made in Latin America to move towards a development strategy that was more open to external competition and more deregulated, with less participation of the State as a producer of goods and services. Efforts in this direction began in Chile in the early 1970s and Argentina later in the same decade; Mexico and Costa Rica followed suit in the 1980s. Brazil appears as a late reformer, initiating market-oriented reforms only in the early 1990s. Such a paradigmatic change prompted enormous macro-, meso- and microeconomic changes. The production structure and the institutional and regulatory environment of the Latin American countries is currently in the middle of a deep, long-term structural transformation.

Related Subject(s): Economic and Social Development
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