Trends in the Latin American Economy in 1980

Since the middle of the 1970s the world economy has displayed a marked loss of dynamism in comparison with the unprecedented growth and prosperity recorded in the three decades following the Second World War. Although it is not certain whether this decline is due to cyclical or to structural factors, or whether it will be temporary or permanent, it is clear that it has lasted longer and has been more severe than might have been expected at the end of 1973, when the first major rise in the international price of oil occurred and the most serious crisis in the developed market economies for the past 30 years began. Futhermore, developments in the period 1979-1980 were a second major setback for a world economy that by 1978 appeared to have adapted relatively successfully to the serious disturbances that took place in the period 1974-1975.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions