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Slippery Alliances in Central America: Multinationals, Dictators, and (Under) Development Policies

In: Big Business and Dictatorships in Latin America

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  • Marcelo Bucheli

    (University of Illinois at Urbana-Champaign)

Abstract

The Central American authoritarian regimes have long been considered the quintessential examples of “puppets” of American interests in the region. This chapter studies the evolving relationship between dictators and foreign capital in Central America. I argue that the alliance between those regimes and foreign capital was not determined by ideological affinities but rather by foreign capital’s capability of bringing stability and personal enrichment to the rulers. Once the multinationals could no longer offer these benefits, the dictators broke the alliance and even realigned themselves with those who opposed the multinationals. The 1974 oil crisis marked the breaking point.

Suggested Citation

  • Marcelo Bucheli, 2021. "Slippery Alliances in Central America: Multinationals, Dictators, and (Under) Development Policies," Palgrave Studies in Latin American Heterodox Economics, in: Victoria Basualdo & Hartmut Berghoff & Marcelo Bucheli (ed.), Big Business and Dictatorships in Latin America, chapter 0, pages 373-397, Palgrave Macmillan.
    • Handle: RePEc:pal:pslchp:978-3-030-43925-5_14
    DOI: 10.1007/978-3-030-43925-5_14
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