List of figures; List of tables; Preface; List of acronyms; Table of official exchange rate parities to US dollar; Map: Central America; 1. A century of independence: foundations of export-led growth; 2. Central America in the 1920s: reform and consolidation; 3. The 1929 depression; 4. Economic recovery and political reaction in the 1930s; 5. Central America and the Second World War; 6. Post-war economic recovery; 7. The struggle for democracy, the Cold War and the Labour movement in the first post-war decade; 8. The foundations of modern export-led growth, 1954-60; 9. The illusion of a golden age, 1960-70; 10. External shocks and the challenge to the social order, 1970-9; 11. The descent into regional crisis; 12. Conclusions; Methodological appendix; Statistical appendix; Notes; Bibliography; Index.