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Economic Development of Central America Econ. 4200 - Spring 2004 – Dr. Taylor - page 84 / 153

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What was the 1969 “Soccer War” between Honduras and El Salvador about?

Therefore, the success of capitalist agricultural development led to greater inequality, increasing poverty and laid the foundation for political instability.

The growing middle class began to entertain the idea that the existing land tenure pattern was retarding economic growth of the urban industrial activities => began to support land reform.

Between 1950-1963, the five Central American nations signed free grade agreements with each other creating a coordinated common market. CACM lasted 10 years. Honduras withdrew after the Soccer War and CACM went into slow decline.

Supported by CEPAL, the nations moved firmly to inaugurated the set of policies associated with import substitution industrialization. What does this policy set entail?

Note: The common tariff structure was not as high as in other Latin American cases… domestic resistance to raising tariffs. Yet final tariff structure gave considerable protection to domestic consumer good producers.

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