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The Decline of Latin American EconomiesGrowth, Institutions, and Crises$
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Sebastian Edwards, Gerardo Esquivel, and Graciela Marquez

Print publication date: 2007

Print ISBN-13: 9780226185002

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226185033.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 05 April 2020

Before the Golden Age

Before the Golden Age

Economic Growth in Mexico and Portugal, 1910–1950

(p.59) 2 Before the Golden Age
The Decline of Latin American Economies

Pedro Lains

University of Chicago Press

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

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