Latin America between two crises

Aníbal Pinto ()

Brazilian Journal of Political Economy, 1992, vol. 12, issue 3, 329-343

Abstract: This work, to begin with, draws attention to the clear contrast between theintensity and evolution of the crisis of the thirties and the one that bursts into the early eighties,originating the so-called “lost decade” which, in fact and except for few exceptions, hasnot yet been overcome. Several main issues are emphasized. On the one hand, the incidenceof the first crisis was substantially more serious than the second. On the other, the externalcircumstances were more disadvantageous and prolonged due to the repercussion of the crisison the “central economies” and the incidence of the Second World War. In spite of thesecircumstances, most of the Latin American countries could initiate their recuperation andmaintain their so-called “inward development” up to, approximately, the sixties. In the lastpart, after analysing different facts which influenced the evolution – mainly, the role playedby the central economies in the two recalled crisis –, emphasis is made on the fact that we“live in another Latin America” and that it is necessary, above all, to constitute other sociopoliticalagglomerations inherent to the internal and external realities of present time. JEL Classification: E66; N16.

Keywords: Economic crisis; economic history of Latin America (search for similar items in EconPapers)
Date: 1992
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