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The Political Economy of Central America since 1920 (Paperback)
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The Political Economy of Central America since 1920 (Paperback)
Series: Cambridge Latin American Studies
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In this book Victor Bulmer-Thomas uses his previously unpublished
estimates of the national accounts to explore economic and social
development in the five Central American republics from 1920. He
examines in detail variations in economic policy between countries
which help to account for differences in performance. The major
political developments are woven into the analysis and linked to
changes in internal and external conditions. Growth under liberal
oligarchic rule in the 1920s, heavily dependent on exports of
coffee and bananas, was accompanied by modest reform programmes.
The 1929 depression, which hit the region hard, undermined most of
the reforms and ushered in a period of dictatorial rule in all
republics except Costa Rica. The Second World War, particularly
after the entry of the United States, at first strengthened the
dictatorships, but ultimately produced challenges to rule by
authoritarian caudillos. The social upheavals accompanying the
post-war export-led boom forced governments in each republic to
address the question of economic, social and political reform.
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