This is really a grey area to touch upon, because it is mostly suppositions.
We have to take in consideration that the population that Spain sent to Central and South America to be "discovered", were mostly convicts that were pardoned in exchange to make this voyage with Christopher Columbus. What resulted was in a cultural exchange that we can still see the ramifications of today. Central and South America is plagued with corruption, a condition that hasn't let them become first-world countries.
It doesn't take more than a quick glance and see how developed are the United States compared to the rest of the region. I'm not saying that Central and South America are the worst places to live and that we are not capable of progression, but corruption will always be an evil presence in our land.
Hope this helps!