Latin America’s Lost Illusions: The Future of Structural Reform

Issue Date April 2003
Volume 14
Issue 2
Page Numbers 123-137
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The future of structural reforms in Latin America is under discussion. This paper synthesizes the facts and opinions that underlie this debate taking into account both the neo-liberal agenda and the views of the anti globalization movement. The paper pointing out that although the reform process has not ground to a halt, it has been incomplete and uneven, both across countries and different areas of reform. Next, the paper analyzes analyzes public opinion of on the reform process and points out that disillusionment with the reforms has been growing, particularly among the middle class and in countries characterized by high levels of corruption. The paper third section of the paper reviews the effects of the reform on growth, poverty, inequality, and employment. The paper summarizes the main proposals to expand or reorient the reform agenda in Latin America.

About the Authors

Eduardo Lora

Eduardo Lora is principal advisor to the Research Department of the Inter-American Development Bank in Washington, D.C., where his recent work has centered on the economic and social effects of structural reforms in Latin America.

View all work by Eduardo Lora

Ugo Panizza

Ugo Panizza is an economist in the Research Department of the Inter-American Development Bank. He has taught at the University of Turin (Italy) and the American University of Beirut.

View all work by Ugo Panizza