Neoliberalism entered Latin America as an alternative to structuralism and dependency theory. Externally, IMF, the World Bank and the west gave strong support for Latin American countries to undertake neoliberal reforms. From the Latin American perspective, the economic hardships in the 1980s made it highly necessary to adopt the neoliberal programs. At the same time, there was the strong social foundation supporting the implementation of the reforms. The results of the neoliberal reforms can be summarized as: 1) macroeconomic situation has been stabilized; 2) regional integration is developing swiftly; 3) development model is changing for the benefits of the non-traditional exports. However, in pursuit of neoliberal experimentation, Latin American countries have met with several shortcomings. For instance, unemployment rate is high and the informal sector is growing. Income gap is becoming wider and wider so that poverty issue is very serious in the region. Finally, the economy is still weak and unable to resist external shocks. Neoliberalism entered Latin America as an alternative to structuralism and dependency theory. Externally, IMF, the World Bank and the west gave strong support for Latin American countries to undertake neoliberal reforms. From the Latin American perspective, the economic hardships in the 1980s made it highly At the same time, there was the strong social foundation supporting the implementation of the reforms. The results of the neoliberal reforms can be summarized as: 1) macroeconomic situation has been stabilized; 2) regional integration is developing However, in pursuit of neoliberal experimentation, Latin American countries have met with several shortcomings. For instance, unemployment rate is high and the informal sector is growing. Income gap is becoming wider and wider so that poverty issue is very serious in the region. Final ly, the economy is still weak and unable to resist external shocks.