Chapter

Before the Golden Age

Pedro Lains

in The Decline of Latin American Economies

Published by University of Chicago Press

Published in print August 2007 | ISBN: 9780226185002
Published online February 2013 | e-ISBN: 9780226185033 | DOI: http://dx.doi.org/10.7208/chicago/9780226185033.003.0003
Before the Golden Age

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This chapter questions some views about long-run economic development that have dominated the economic historiography of both Mexico and Portugal. In fact, many would argue that economic growth and industrialization gained momentum in the two countries only after World War II and as a consequence of the opening up of their economies to positive influences of growth from their more developed neighbors. The chapter contributes to the exploration of the causes of economic growth in the periphery of the industrialized world during the interwar period. Economic growth in the two countries was marked by a path of intensive structural change at the national and industrial levels. The available data is not sufficient to endeavor into detailed analyses of total factor productivity, but the observed changes in the structure of output and labor input enlighten the most important factors behind interwar growth.

Keywords: economic historiography; Mexico; Portugal; economic growth; industrialization; total factor productivity

Chapter.  9746 words.  Illustrated.

Subjects: International Economics

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