Latin America and Contemporary Modernity. JOSE MAURÍCIO DOMINGUES, Routledge, 2007.

Abstract

Latin America has passed through huge transformations since the early 1980s. Before that, the region had been run under an industrialization and import substitution program that was successful in many countries. Then in the early eighties, a series of changes began to take place: in most Latin American countries the developmental state collapsed and the foreign debt crisis led the International Money Fund (IMF) and the World Bank to enact stabilization programs that deeply de-regulated the labor markets and the internal markets.