Generalizations are never 100% complete (by definition). But so much poverty and corruption, and so much desperate migration, sustained for such a long time (decades) is a picture of overall failure.
Mexico has the fewest excuses. It is perfectly positioned in the middle of the earth, with coasts on both the Atlantic and Pacific, and with abundant resources. They could be an economic _powerhouse_, with trade relations with the entire world (thing manufacturing, shipping, ...) if they could get it together (and I hope they do). But, history seems to show that isn't likely for a long time, if ever.