Economic growth and stabilization in Central America and the Dominican Republicin 1990-2011

From 1950 until the end of the 1970s, the three most dynamic decades of the last century for the region’s development, the economies of Central America and the Dominican Republic expanded vigorously. The drivers of this growth were the increase in agricultural exports and industrialization, within the framework of a subregional integration strategy aimed at creating a common market. Central American governments pushed forward with this integration strategy, which played a key role in the expansion of both the domestic subregional market for locally produced consumer goods and exports of manufactures. Two of the most important instruments of this initiative were far-reaching liberalization of intraregional trade in industrialized products and the implementation of fiscal incentives and other promotion policies targeted on so-called integration industries.

Related Subject(s): Economic and Social Development

Countries: Dominican Republic