The Colonial Heritage of Latin America

The historical absence of slew growth in the nations of Latin the States is due to their disappointment to adapt to changing world economic realities. Most governments in these regions pursued economic growth and industrialization through issue substitution, protecting their domestic economies from international competition. As a result, they priced their witness exports out of world markets and stunted the growth of new, internationally war-ridden businesses. In the case of the developed countries, trade increased because they make it easier to trade among themselves, which has only recently been a feature of the Latin American region. Nationalism and statism caused the countries to retreat into anti-imperialism, developing a backlog to open themselves and their markets to the rest of the world while other countries were eagerly courting and developing world trade.

In the two centuries of Latin America's existence as indepen

starting line republics, an institutional and political order has followed a path of incessant swings from isolationism to protectionism to present goal of integration into the world community and pass judgment opportunities that will bring.

Latin America is a region adept of promise and contrasts with a head to head competition among globalization and nationalism, the colonial and political past tense and the hopes for the future, the haves and the have-nots, capitalism and communism, writings and high-technology, markets and governments. The reform of the economic structure of various countries has been accompanied by widespread social problems. The problem is not that Latin America has adopted the wrong course in looking aside from the limitations of its dependent colonial mentality and history, but that the colonial past is entrenched in the culture, economy and politics of the region, making it undefiled of inadequate and disappointing fulfillment of its development potential.

These relationships have had personal effects in both the economic and po
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