How did Latin American governments respond to the decline of their export economies and access to foreign capital during the 1920s and 1930s?

Question

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Latin American governments responded to the decline of their export economies and access to foreign capital during the 1920s and 1930s by working to make domestic industry and consumption their main engine of economic growth. They implemented import substitution policies that aimed to produce domestically what was previously imported in order to reduce their dependence on foreign imports and increase their domestic production of goods. This approach helped stimulate domestic industries and ultimately led to greater diversification of Latin American economies.

How Did Latin American Governments Respond to the Decline of Their