Growth and Crisis in the Central American Economies, 1950—1980

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Abstract
Prosperity and increasing inequality may well be the most suitable terms to describe at first glance the evolution of the Central American economies from the post-war period until the beginning of the eighties. Prosperity based on a very favourable external economic situation was characteristic of the fifties, with promotion of technological modernization and some diversification in the export sector. Sustained economic growth continued during the following decade, thanks to structural change brought about by industrialization and by the process of Central American integration. This upward trend began to break up in the seventies, and the whole region was plunged into crisis and instability. Although the gloomy side of the new international situation cannot be denied, twenty or thirty years of prosperity seem to have created internal conditions sufficient to nurture a social conflict of vast proportions, which embraces since at least 1978 not only the economic sector but all aspects of Central American life.

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