Second wave

OPINION polls show that Latin Americans are increasingly disillusioned with free-market economic reforms. Although the region has recovered from the Mexican peso crash of 1994-95 and its knock-on effects with remarkable speed, gloomier commentators have begun to suggest that no economic policies can give Latin America Asian-style growth rates. But research presented to the annual meeting of the Inter-American Development Bank (IDB), held this week in Barcelona, in Spain, suggests that that view is too pessimistic. According to the IDB's economists, deregulation, freer trade and a consistent attack on inflation have contributed to a long-term increase in growth and investment.