The reform movements that began in many Latin American economies in the late 1980s favored

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The reform movements that began in many Latin American economies in the late 1980s favored a stronger role for markets and more openness. This included liberalizing trade, reducing barriers to foreign investment, and privatizing state-owned enterprises. These policies were aimed at increasing efficiency and promoting economic growth. Competitive devaluations and imports substitution policies were common economic strategies in Latin America prior to the 1980s, but were not part of the reform movements that began in the late 1980s. Similarly, stronger military budgets were not a priority for these reform movements.

The Reform Movements That Began in Many Latin American Economies