The paper analyzes the economic and social development of Latin America after nearly two decades of macroeconomic policies and reforms in line with the "Washington Consensus." It shows that these policies lowered inflation and induced an export boom but failed to boost domestic investment and to...

In the years 2002 to 2006, Latin America registered, on average, one of the highest growth rates in over two decades. The empirical evidence suggests that the good economic performance of the past six years is increasingly and strongly correlated either with a positive terms-of-trade shock,...

This paper reviews the experience of South America with subregional financial cooperation. It shows that this experience has been one of the most successful in the developing world, though uneven in terms of country coverage and services provided. The Andean region has been particularly...