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What were the (3) three drawbacks to economic growth in Latin America during the Golden Age?

What were the (3) three drawbacks to economic growth in Latin America during the Golden Age?

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Answer #1

The economic growth in Latin America was based on the exploitation of Human Capital and the institutional legacy of the old colonial powers.

The presence of Roman Catholics in Latin America, partly related to the role of the Catholic Church as an educational institution, thus positively affecting the literacy rate.

Macro-economic fundamentals were negatively correlated with growth.

The growth was not propelled by Industrialisation and improvement of technology

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