Economic Transition Within Latin America Since 1980--Lessons for a New World Order.
Abstract
Between the end of World War II and 1980, the economies of many Latin American countries grew substantially. This growth came to an abrupt halt in the early 1980's. The primary reasons were a sharp decline in world oil and other export commodity prices, heavy government debt burdens, sharp increases in world interest rates which made servicing the heavy debt burden nearly impossible, and structural economic inefficiencies resulting from excessive government involvement in business and the economy. The economic adjustment endured by Latin American countries during the 1980's was so severe that this period of time is now referred to as The Lost Decade. Many Latin American economies are now, however, poised to resume substantial economic growth and development. This study will examine the economic transition experienced by four Latin American countries (Argentina, Brazil, Chile, and Mexico) during the 1980's. It will identify possible lessons learned which may be applicable to other developing countries and countries of the former Soviet bloc as they attempt to improve their economic well-being by shifting to market based economies.
Document Details
- Document Type
- Technical Report
- Publication Date
- Mar 26, 1993
- Accession Number
- ADA263883
Entities
People
- Edward P. Boyle
Organizations
- United States Army War College