http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.197.4788&rep=rep1&type=pdf

Over the last 25 years a dramatic change in development policy has occurred in Latin America. Increasingly it has come to be accepted that the old model of state directed import-substituting industrialization was not sustainable and had to be replaced. That has led to profound structural reforms in tariffs, taxes, the control of the international and external financial system, and to a lesser extent, the role of state enterprise and labor regulation. The common characteristic of all of these reforms is to: 1) open up the internal economy to foreign competition, 2)reduce the role of the government in directing the allocation of resources and production in the economy, and 3) reduce the distorting effect of the tax system on private decision-making. (Au)