The Great Depression indeed had long-term effects on the educational systems in Latin American countries. The economic challenges and the necessity for skilled labour to support the new industries under the ISI policy prompted several countries to invest more in education. There was a recognition of the need for a more educated workforce to manage and work in the developing industrial sector. Governments began to expand public education, increasing literacy and providing vocational training to serve the needs of industrialisation. Over time, this led to an increase in educational institutions and a gradual rise in literacy rates, which would have significant implications for the development of human capital in the region.

Foreign debt in Latin America during the Great Depression played a complex role. Initially, countries borrowed heavily to finance industrialisation projects and maintain their gold reserves. However, as export earnings plummeted due to falling commodity prices, they struggled to service this debt. This led to a vicious cycle of borrowing and repayment difficulties, which was exacerbated by the drying up of international credit. Some countries, like Brazil, negotiated debt moratoriums, while others defaulted, which further isolated them from international financial markets. The debt situation underscored the fragility of Latin American economies and highlighted the need for economic restructuring.

The Great Depression had a significant adverse effect on the agrarian sector in Latin American countries. As these economies turned inward, focusing on industrialisation through ISI, the agricultural sector often suffered from underinvestment. The redirection of resources towards urban and industrial areas led to a decline in rural infrastructure and technology, worsening the plight of the rural poor. Moreover, as countries raised tariffs to protect burgeoning industries, agricultural exports fell sharply, leading to reduced incomes for farmers. This rural neglect not only led to urban migration but also to social unrest, which sometimes resulted in agrarian reforms in subsequent decades.

The demographic consequences of the Great Depression in Latin America were profound. Economic hardships and the drive for industrialisation under policies like ISI prompted a significant rural-to-urban migration. People moved to cities in search of employment, given the growth of domestic industries and the decline of the agrarian economy. This migration led to rapid urbanisation, which often outpaced the development of adequate housing and public services, resulting in the expansion of slums and increased pressure on urban infrastructure. The demographic shift also contributed to changing societal structures, with a growing urban middle class and altered social dynamics.

In response to the Great Depression, larger Latin American economies, such as Brazil and Mexico, had the resources to implement more extensive measures like ISI, nationalising foreign assets, and developing substantial state enterprises. These nations had larger internal markets to absorb increased production and were better positioned to enforce protectionist policies. In contrast, smaller economies, with less diversified economic structures and more dependency on a few primary exports, found it difficult to implement ISI effectively. They often lacked the capital and infrastructure to develop substantial domestic industries and were more vulnerable to the adverse effects of trade isolation.