No. 20-21 (1991): Public Investment Perspectives in Central America

Between October 30 and November 1, 1991, the Central American Institute of Public Administration (ICAP) held the First Conference on "Prospects for Public Investment in Central America" in the context of stabilization and structural adjustment programs.

The central themes discussed at the Conference were as follows:

1. Stabilization and structural adjustment policies.

The objective was to address the fundamental aspects of stabilization and structural adjustment policies, i.e., the background, actors, what type of economic policy instruments have been applied and what the economic, social and political effects have been, as well as their impact on public investments.

2. Restructuring and modernization of the administrative apparatus of the State within the framework of current policies and sustainable development.

The objective of this topic was to address the most important aspects of the economic policies linked to the restructuring and modernization of the State. Presentations highlighted the location of the role of the public administration with a view to obtaining greater management flexibility within the new context, as well as considering, among other aspects, some guidelines related to the prospects for the new role of the State.

3. Analysis of the public investment planning process: its new role in view of the decade's prospects

Investment is a fundamental element in the reactivation process of Central American economies. Basically, by increasing public and private investment, it will be possible to improve the possibilities of future growth and achieve the necessary technological upgrading. This means that scarce internal and external resources will have to be used efficiently, therefore, it will be necessary to establish a planning system for public investment programs in accordance with the changes that must take place in the productive structure.

The papers presented in this Journal respond to the central themes outlined above, and undoubtedly provide valuable information on public investment in Central America.