ABSTRACT
There are hazards to generalizing these results unquestioningly to other Latin American countries. An important source of inequality and poverty in Latin America is land distribution. Within the Latin American continent, the rich endowment of resources, both natural and human, provide a solid basis for hope for the future. The empirical case study suggests that better internal policies can significantly improve the economic performance of Latin American countries. The current system of disproportionately high tariffs and outright quotas on labor-intensive manufacture and raw material processing works against the attempts by Latin American countries to expand exports. Ending the Multifiber Agreement alone would make a substantial impact on Latin America. As Latin America and other developing nations recover and resume the development process, their demand for US, European, and Japanese goods expand. The raw potential for economic success exists in Latin America.
