1 Latin American economic development: an overview The expression “Latin America, ” whose origin is still hotly disputed, 1 at first had little more than geographical significance–it referred to all those independent countries south of the Río Grande in which a language de- rived from Latin (e.g., Spanish, Portuguese, and French) was predominantly spoken. In this original meaning, the only characteristics common to the countries of Latin America were their location in the Western Hemisphere and the origins of their language. In many respects the differences between the countries were considered to be as important–if not more so–as what they shared. These differences–whether of size, population, ethnicity, natural re- sources, climate, or level of development–are still very important, but it has also become clear that the republics are held together by much more than geography and language. The shared colonial experience, as divisions above all of the Spanish or Portuguese empires, was crucial in shaping the economic and political destinies of the new republics after independence. The pattern of development in the nineteenth century, based on the export of natural resources to the industrialized countries, reinforced this sense of a shared past. Thus there is real meaning to the phrase “Latin America, ” and the factors in common are stronger than those that bind the countries of Africa, Asia, or Europe. Furthermore, the membership of the Latin American club has been fairly stable since independence, with relatively few additions or sub- tractions as a result of border changes, secession, or annexation (see Map 2 and map 3 ); indeed, the boundaries of Latin American states, although often the source of interstate conflict and still not entirely settled, 2 have changed much less in the past 150 years than have frontiers elsewhere. ____________________ | 1 | According to some, it was the Colombian José María Torres Caicedo who first coined the term “Latin America” in 1856 (see Bushnell and Macaulay, 1988>, p. 3). Others attribute it either to the French academic L. M. Tisserand or to the Chilean Francisco Bilbao at approximately the same time. | | 2 | The main border disputes (including maritime boundaries) still outstanding are the following: Guatemala and Belize; Colombia and Venezuela; Venezuela and Guyana; Honduras and Nicaragua. The long-standing territorial dispute between Argentina and the United Kingdom over the Falkland/ Malvinas islands also remains unresolved. | -1- |