State and Liberalization in Latin America
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In Latin America, the liberalizing reforms of the late twentieth century set the stage for experimentation with new forms of state-market relations. The decades-old state-centered economic model had brought significant forms of development and industrialization, but the crisis of the eighties signaled the need for change—as large debts, high fiscal deficits, and soaring inflation were no longer able to act as stimuli to economic growth. To reform large and often inefficient state apparatuses, policymakers launched initiatives favoring destatization and liberalization, thus widening the role of the private sector and the market in the 1990s.
KeywordsPrivate Sector Debt Crisis Reform Process North American Free Trade Agreement Military Regime
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