What went wrong in Latin America? - Martin Daunton

In the Great Depression, producers of food and raw materials complained that they received low prices and paid high prices for industrial imports. Latin America adopted ‘import substituting industrialisation’ to encourage production behind tariff barriers. This approach continued after the war as more countries gained independence.Did this policy result in inefficient industries and state regulation without delivering improved welfare? By the 1980s, the policy was in retreat with a turn to market liberalisation and export-led growth.This lecture was recorded by Martin Daunton on 9th April 2024 at Barnard's Inn Hall, LondonThe transcript and downloadable versions of the lecture are available from the Gresham College website:https://www.gresham.ac.uk/watch-now/import-substitutionGresham College has offered free public lectures for over 400 years, thanks to the generosity of our supporters. There are currently over 2,500 lectures free to access. We believe that everyone should have the opportunity to learn from some of the greatest minds. To support Gresham's mission, please consider making a donation: https://gresham.ac.uk/support/Website:  https://gresham.ac.ukTwitter:  https://twitter.com/greshamcollegeFacebook: https://facebook.com/greshamcollegeInstagram: https://instagram.com/greshamcollegeSupport the show