Latin American adjustments to the OPEC crisis and the world recession

Journal Article · Thu Jun 01 04:00:00 EDT 1978 · Soc. Sci. Q.; (United States)

OSTI ID:6586448

Street, J H

The developing countries of Latin America suffered more serious economic and political impacts from the 1973 oil price increases than did the industrialized nations at whom the embargo was directed. For many countries, the long-term effects of the emergency measures will impede political stability and economic growth. The author reviews the shocks brought on by inflation, market interruptions, and increased debts. International efforts to cope through regional and Third World cooperation and through assistance from the International Monetary Fund and other organizations have placed the burden largely on the working classes and the unemployed. One result of this has been an increase of illegal immigration into the United States, Venezuela, and Brazil from their less-developed neighbors. The rate at which the developed countries manage their own economic recovery so that markets and economic resources are opened up will affect the futures of the developing countries. The most important factors, however, will be the reconstruction of international lending procedures and the development of resources within the developing countries. 52 references.

• Research Organization: Rutgers--The State Univ., New Brunswick, NJ
• OSTI ID: 6586448
• Journal Information: Soc. Sci. Q.; (United States), Journal Name: Soc. Sci. Q.; (United States) Vol. 59:1; ISSN SSQTA
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290200* -- Energy Planning & Policy-- Economics & Sociology
293000 -- Energy Planning & Policy-- Policy
Legislation
& Regulation
DEVELOPING COUNTRIES
ECONOMIC DEVELOPMENT
ECONOMIC IMPACT
EMBARGOES
EMPLOYMENT
IMPORTS
INFLATION
INSTITUTIONAL FACTORS
INTERNATIONAL COOPERATION
INTERNATIONAL ORGANIZATIONS
LATIN AMERICA
OIL-EXPORTING COUNTRIES
OIL-IMPORTING COUNTRIES
OPEC
POPULATION RELOCATION
REGIONAL COOPERATION
RESOURCE POTENTIAL
SOCIAL IMPACT
SOCIO-ECONOMIC FACTORS
TRADE