Since the beginning of the 1990s, there has been a lot of enthusiasm over the anticipated Latin American 'miracle'. In this study, Professor Hernando Gomez Buendia explores the background, facts and achievements of the development experience in the region during the 1990s. He discusses in depth...

This paper raises the question whether the current wave of macro-economic and structural reforms in Latin America should be viewed as a decisive change in the Continent's long-term development strategy or as part of but another stop-go cycle for which the Continent has been known in the past.