Can Trade Liberalization Explain Spain?s Economic Success and Latin America's Sluggish Economic Performance.

Latin American countries are the only Western countries that aren't gaining ground on United States and the EU. This paper explores the role of trade and institutional liberalization in promoting growth and development in Spain and Latin America. Can the Latin America's gap be explained by the existence of domestic and international trade barriers that impede the efficient reallocation of resources? To what extend non-economically-driven preferential arrangements difficult development? ..PAT.-Unpublished Manuscript [ABSTRACT FROM AUTHOR]