North-South investments.

• Position: US-Latin America economic relations

OAS Secretary General Cesar Gaviria was the keynote speaker at a recent conference sponsored by the North-south Center at the University of Miami. Entitled "Development Strategy after Neoliberal Economic Restructuring in Latin America," the two-day conference was organized to allow experts to analyze trade and investment issues in light of the progress made since the December 1994 Summit of the Americas.

In his remarks at the opening of the conference, Secretary General Gaviria pointed out that development strategies have changed significantly in recent years. Whereas in the past economic liberalism and governmental interventionism were pitted against each other as policy options, now the emphasis is on recovering the reputation of markets and price mechanisms. "I am convinced that preserving the consensus about the fundamental desirability of free markets and of macroeconomic stability is essential for any successful approach to development strategies," stated Gaviria.

According to the Secretary General, there are key political, economic, and institutional factors determining the growth potential of Latin America that cannot be approached exclusively from an economic angle. "I refer to the level of investment and, equally important, to institutional modernization and...