Import substitution industrialization and neoliberalism's effects on Latin American urbanization

Urbanization in Latin America was the result of the industrialization that took place in the 18th century and attracted rural population to migrate in order to get better employment and life facilities. However, Neoliberalism caused privatization and resulted in the economic opportunities and growth prospects but the long-term effects tend to be declining in terms of growth due to the imbalance of job availability and job requirements and autonomy of corporate companies.

Import Substitution Industrialization vs. Neoliberalism