Economic Development in Honduras Term Paper

Pages: 7 (2008 words)  ·  Bibliography Sources: ≈ 18  ·  File: .docx  ·  Level: College Senior  ·  Topic: Literature - Latin-American

SAMPLE EXCERPT . . .
"The results are grim" (Mander 2001:34). An unresolved dispute over bananas could also trigger a subsequent chain reaction of punitive sanctions in this area as well as another dispute over tax rules that could reach as high as $4 billion, according to international trade officials (Dougherty 2001). Chiquita subsequently filed for Chapter 11 bankruptcy protection and blamed European policies for its economic failures because the European banana system allocated import licenses through a complex formula that reduced Chiquita's shipments. When Europe refused to change the system in 1998, the United States imposed $191 million in trade sanctions; however, the dispute assumed more ominous levels in 2001 as Europe completed a new system that Chiquita continued to oppose (Mander 2001).

Economic Indicators in Honduras Today. According to the World Bank's basic economic scorecard, Honduras ranks below the Latin American average across the board as shown in the tables and figures below.

Country

KEI

Econ. Incentive Regime

Innovation

Education

Information Infrastructure

Latin America

3.94

3.74

2.96

4.39

4.68

Honduras

2.27

2.93

0.75

2.41

2.99

Variable

Honduras

Latin America

Average Annual GDP growth (%)

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2.20

1.66

Variable

Honduras

Latin America

GDP per capita

Variable

Honduras

Latin America

Poverty Index

19.90

13.10

Variable

Honduras

Latin America

Unemployment rate, % of total labor force

4.00

9.39

Variable

Honduras

Term Paper on Economic Development in Honduras: A Assignment

Latin America

Gross Capital Formation

31.50

20.71

Variable

Honduras

Latin America

Soundness of banks

3.60

4.48

Variable

Honduras

Latin America

Adult literacy rate (% age 15 and above)

75.10

86.15

Conclusion

The research showed that the historic constraints to economic development that have plagued many Latin American countries are even more pronounced in the Republic of Honduras. The country continues to languish in many economic areas, even compared to its neighbors in Latin America, with only its average annual GDP growth and gross capital formation indicators slightly edging out its other Latin American counterparts. In the final analysis, it may well be several more decades before Honduras is able to shake off the lingering effects of its former status as a "banana republic" and the impact of natural disasters such as Hurricane Mitch to join the international community as a competitive trade partner.

Works Cited

Bates, Stephen. (January 8, 1999). Good friends slip on a banana skin. New Statesman,

128(4418):23.

Befus, David R., Debbie L. Mescon, Timothy S. Mescon and George S. Vozikis. (1988).

International Investment of Expatriate Entrepreneurs: The Case of Honduras. Journal of Small Business Management, 26(3):40.

Dougherty, Carter. (March 10, 2001). Zoellick, Lamy seek banana accord. The Washington

Times, 9.

Euraque, Daraio A. Reinterpreting the Banana Republic: Region and State in Honduras, 1870-

1972. Chapel Hill, NC: University of North Carolina Press, 1996.

Honduras. (2004). U.S. Government: CIA World Factbook. Available: http://www.cia.

gov/cia/publications/factbook/geos/ho.html.

James, Steve. (January 20, 1999). Banana war threatens jobs and heralds wider trade conflicts.

World Socialist Web Site. Available: http://www.wsws.org/articles/1999/jan1999/ban-

j20.shtml.

Lewis, Megan. (April 2002). Challenge in the Tropics: Before 1998, Central America… [END OF PREVIEW] . . . READ MORE

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