SELECT ALL THAT APPLY. Which of the following factors contributed to the lost decade in Latin America?

Question

Quizplus · Accepted Answer

The oil crises in the 1970s and 1980s led to a decrease in export earnings for many Latin American countries heavily dependent on oil exports. This contributed to economic downturns and high levels of debt, which were also fueled by borrowing to finance development programs. The combination of these factors resulted in what is commonly referred to as the "lost decade" in Latin America. While bureaucracy may have played a role in hindering economic growth and development, it was not a primary factor contributing to the lost decade. Low inflation is generally seen as a positive factor, rather than a hindrance to economic growth.