Published 2023
“…Nonetheless, in the last quarter of the past century economic growth slowed drastically, which was mainly associated with economic instability, approximated by inflation and the
per capita growth rate output volatility. The intuition is that once the country lost foreign markets for its exports, could temporarily sustain growth thanks to domestic demand, but once this strategy
petered out the economy was signed by a long period of turbulence and stagnation, specifically since 1975 onwards. …”
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