During the 1960s, the countries of Latin America and the Caribbean opted for an economic development strategy based on trade protection. At its core, import substitution sought to protect local industries from foreign competition. Although the region’s economies grew significantly, this growth laid the foundations for the 1980 debt crisis, which was compounded by a series of … [Read more...] about Trade Liberalization and Diversification, key for Central America
JORDI PRAT Jordi is a Senior Economist for the Department of Central American Countries, Haiti, Mexico, Panama and the Dominican Republic of the Inter-American Development Bank (IDB). While at the IDB, he has coordinated the Regional Macroeconomic Report (2015, 2017 and 2018), which examines the current situation and international perspectives in Central America and the Dominican Republic. Before joining the Bank, he was Minister of Finance of Costa Rica (2010-2014) and Economist at the International Monetary Fund (2002-2010). He has a Master and a Doctorate in Economics from the University of Los Angeles (United States), and a Bachelor in Economics from the Pontificia Catholic University of Chile. He has written and participated in several publications for the IDB.