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Reorientation of Central American integration
- Source: CEPAL Review, Volume 1992, Issue 46, Sep 1992, p. 125 - 137
- Spanish
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- 19 Sep 1992
Abstract
The Central American countries promoted a vigorous integration process which gave rise to valuable experience. The increased trade furthered industrialization and stimulated investment, modernization of production and economic growth. However, the exhaustion of the past growth model based on agricultural exports and the persistence of the system of over-protection of substitution industry, which was continued longer than was necessary, led to a profound crisis in the economies and in the integration programme itself.
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