"La Década Perdida" / The Lost Decade (jan 1, 1980 – jan 1, 1990)

Description:

The lost decade indicates the 1980s period in Latin America, where most of the economies had just defaulted and were rebuilding themselves.
These were depressed economies with high inflation, decreasing real wages as well as income.

The lost decade wasn't only negative, as it led to democratization (government during the crisis were all kicked out), and governments that were heavily indebted jettisoned the idea of import substitution.

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