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Another case of the middle-income trap: chile, 1900–1939
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In this article, the authors studied the evolution of the Chilean economy in the late 19th and early 20th century, a period when the country's convergence with developed countries came to an end.Abstract:
ABSTRACT This paper studies the evolution of the Chilean economy in the late 19th and early 20th century, a period when the country's convergence with developed countries came to an end. We analyse this problem in the context of the modern literature on the middle-income trap. The social, political and economic history of Chile between 1875 and 1939 is examined and the presence of most of the factors associated with the middle-income trap is found. We complement this narrative through a quantitative analysis based on the synthetic control method and argue that the process of state-led industrialisation undertaken in the country leading to the formation of CORFO was a key economic and political event. Our work presents some general lessons for developing countries facing a similar context.read more
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Institutions and the Path to the Modern Economy: Lessons from Medieval TradeInstitutions and the Path to the Modern Economy: Lessons from Medieval Trade, by GreifAvner. Cambridge, UK: Cambridge University Press, 2006. 526 pp. $34.99 paper. ISBN: 0521671345.
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Virtual History: Alternatives and Counterfactuals
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