Raul Prebisch and the Current State of Economic Development of Guatemala

The author in this article compares the economic development of the Republic of Guatemala from 1945 to 2015 against the theories of the economic development of Latin America as promulgated by the famous Argentinian economist, Raul Prebisch. The obstacles against economic development in Guatemala were social, political, commercial and industrial. Guatemala is still experiencing uncoordinated technological applications in the economy, anti-competitive practices are extant, and a small percentage of the entire population controls most of the land. However, positive changes have been taking place in society, politics, commerce and industry supporting the economic development of the country