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Economic Development of Central America Econ. 4200 - Spring 2004 – Dr. Taylor - page 25 / 153

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- Governments had introduced productive tariffs and quotas (or total ban on certain imports) to protect domestic producers and in some instances domestic producers had monopoly status => little incentive to improve management or labor practices so the prices of local manufactured goods rose above those available in international markets.

- Also, very powerful domestic interests resisted dismantling tariffs and quotas that protected their favored status (import of luxury goods exempt and financial benefits of import licenses under quota system).

- The rate of job creation was much lower than had been hoped for … largely because of the rapid growth of the labor force (from both urban migration and high rates of population increase) but also because of capital intensive production techniques favored.

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