In the past twenty years, economic policy in Latin America has veered toward neoliberalism, or market friendliness. State interventions in the economy were cut back in many areas, in the form of reductions in fiscal deficits; privatization of publicenterprises; reductions of import quotas and tariffs and export subsidies; removal of barriers to foreign capital flow; and increased faith in the private sector and market processes. This book offers an intellectual and historical background for these policy choices, specifically in Argentina, Brazil, Chile, Colombia, Mexico, and Peru. The contributors detail the structural reform and economic policies in Latin America and discuss the various and often contradictory effects neoliberalism,such as fluctuating growth rates and saving-investment balances, worsened corruption, growth of exports, falling wages, and rising unemployment. In addition, each case study forecasts the effects of neoliberal policies on future growth...

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