The review revealed some general conclusions that applied to the sample of study countries as a whole. There has been substantial experimentation with MBIs in Latin America and the Caribbean . MBIs across a wide range of mechanisms have been developed and applied in all of the countries investigated. The primary historical role of MBIs in the region is to raise revenue . The major impetus behind using many of the MBIs in Latin America and the Caribbean has been to raise revenue.
Public awareness is low and uncertainty is high .
Weak participation among stakeholders, largely inherited from authoritarian regimes of past decades, poses a real constraint to the rapid implementation of complex MBI mechanisms. A common assumption regarding MBIs is that they form a ready substitute for outdated or inefficient CAC regulatory procedures. This substitution opportunity is not shared in Latin America and the Caribbean. Although there is definite scope for careful and timely implementation of certain MBIs, significant constraints will persist in three areas. Institutional constraints to MBI implementation remain pervasive .