The Great Depression in Latin America heavily affected the region in the 1930s after the Great Depression had spread globally since the stock market crash of 1929 on Wall Street.[1]
The Great Depression saw change in Latin America's governments, their economic policies and the nations' economic performance. It is initiated by the economic decline of the American and British economy which later caused the economic declines of Latin American countries because they relied on Britain and America for investment in the region's economies and their demand for the region's exports.[2]
The rise in fascist governments was brought on by nationalist desires during the Great Depression, as was demonstrated by the Vargas government in Brazil which ruled from 1930 to 1945.[3][4] The period saw a further shift in government economic policies in Latin America, such as in Argentina, in efforts to adjust their economies to recover from the Depression. Latin American countries that were economically impacted by the Depression included Brazil, Cuba, Chile, Mexico, and Peru.[5]
^Drinot & Knight 2014, p. 30.
^Diaz Alejandro 1984, p. 40.
^Skidmore, T.; Smith, P.; Green, J. (2005). Modern Latin America (6th ed.). New York: Oxford University Press.[page needed]
^Keen, Haynes (2004). A History of Latin America (Seventh ed.). New York: Houghton Mifflin.[page needed]
^Thorp 1984, p. [page needed].
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