5. what factors contributed to the economic issues in argentina
Economic history of Argentina Beginning in the 1930s, however, the Argentine economy deteriorated notably.[3] The single most important factor in this decline has been political instability since 1930, when a military junta took power, ending seven decades of civilian constitutional government.[5] In macroeconomic terms, Argentina was one of the most stable and conservative countries until the Great Depression, after which it turned into one of the most unstable.[6] Despite this, up until 1962 the Argentine GDP per capita was higher than of Austria, Italy, Japan and of its former colonial master, Spain.[7] Successive governments from the 1930s to the 1970s pursued a strategy of import substitution to achieve industrial self-sufficiency, but the government's encouragement of industrial growth diverted investment from agricultural production, which fell dramatically.[8]