Higher education is undergoing a complex process of transformation at the international level. This transformation is based especially in the fields of policies and governance of higher education institutions. In Latin America this trend has been growing since the 1980s, and higher education is undergoing a strong modification in its processes and structures. The first part of this essay offers a conceptual framework about the policies and governance of higher education from a comparative perspective. The second part examines the changing trends in Latin America and examines the cases of six higher education systems. The final portion of the essay addresses perspectives and future trends. (Contains 38 references.) (Author/RH)