0
The system of ISI was initially a desperate attempt by nations to succeed despite the depression constricting demand for most Latin American exports; at first, this industrialization created jobs, industrialized the region, and made Latin America more self sufficient. As ISI created a great deal of exports, there was an unfair bias towards the export sector, taxing them a great deal of money due to revenues. This led to little reinvestment in the region, and in turn less growth. ISI required a great amount of imports for the inputs of industry, so a trade defecit occured.
In addition to this, the industries created were incredibly inefficient, and the overvalued exchange rate/inflation plauged the countries all throughout the second phase of ISI. Latin America had to borrow billions to continue to produce, and financed this debt abroad. Once Latin America faced economic crisis, it was the IMF, Washington Consensus, and other nation-states that bailed the country out, at the cost of reform (privitization, trade liberalization, financial liberalization, deregulation, etc).
What else can I help you with?
What economic gains and setbacks did latin American countries experience after independen ce?
Dat boi Dewict he stinky
What happened in the 1980s that led Latin American countries to borrow money from wealthy countries such as the US?
In the 1980s, many Latin American countries faced economic challenges, including high inflation, stagnant growth, and political instability. To address these issues, they turned to wealthy nations and international financial institutions for loans, often enticed by lower interest rates and the promise of economic recovery. However, this led to a cycle of debt, as countries struggled to repay their loans amidst worsening economic conditions, ultimately culminating in the Latin American debt crisis.
What effect did the economic crises of the 1930s have on many Latin American governments?
In the midst of econimic crisis, stronger, authoritarian governments of different types rose in latin american countries. Pg 391 on modern world history
How have latin American nations tried to achieve economic independence?
Latin American nations have tried to achieve economic independence by controlling their means of production. Oil producing Latin American nations have nationalized oil companies.
One major economic problem facing most Latin American countries is that?
The economies of Latin American nations is controlled by a small group of landed elite and foreign investors. Many of the profits do not stay in the country and do not lead to the betterment overall.
Which people have formed an economic oligarchy in several Latin America countries?
which people have formed an economic oligarchy in several latin American countries
What route did Africa and the Latin American countries that left them outside the mainstream of the global economic movement?
Latin American?! Yeah, right
The alliance for progress provided what kind of assistance to latin American countries?
economic
Which people formed an economic oligarchy in several Latin American countries?
i need help
How did US justify its intervention into the internal arrairs of Latin American countries?
Its "national and economic interests"
How did the economic polices of many Latin American countries changed since 1945?
They have increased imports and exports.
How many Latin American countries are there?
There's to be about 20 Latin American countries
How did president tafts dollar diplomacy help American gain economic power over latin American countries?
Americans invested in banks, business, and resources in Latin America
What policy is needed to help some Latin American countries carry out economic programs at home?
The policy that is used to help some Latin-American countries carry out economic programs at home is the United States foreign policy. This is a policy where the United States offers aid and guidance to other countries to help 'get them on their feet' and straighten out their economic and societal issues.
What is the most accurate example of president taft's policy of dollar diplomacy?
Exerting economic influence rather than military force in Latin American countries.
What juggling act do latin American countries face?
The Latin American countries are juggling to face protection. The Latin American countries are wanting to protect their rain forests.
What economic gains and setbacks did latin American countries experience after independen ce?
Dat boi Dewict he stinky
