alt Hacker NewsThe hacker culture in Latin America was largely driven by frustration with the subpar hardware/software options available to the general public, and the financial inaccessibility of better options. So I wouldn't say that financial stability is a prerequisite for hacker culture to thrive.
That's the main reason why most embedded devices and Android phone hackers (or more recently, ROM developers) are from Russia, Brazil or India. It's more of trying to squeeze more performance from a cheaper option... and having the time to do it. Once you're happy enough (not even perfectly!) with your product and you don't have the time to try to improve it yourself, you just won't.
The hacker culture in the West is more related to creating a thing, and doing everything yourself from scratch on bare metal components - often for the fun and challenge, rather than necessity.