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ANOTHER CASE OF THE MIDDLE-INCOME TRAP: CHILE, 1900–1939.
- Source :
- Revista de Historia Económica / Journal of Iberian & Latin American Economic History; Mar2022, Vol. 40 Issue 1, p5-33, 29p
- Publication Year :
- 2022
-
Abstract
- This paper studies the evolution of the Chilean economy in the late 19<superscript>th</superscript> and early 20<superscript>th</superscript> 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. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 02126109
- Volume :
- 40
- Issue :
- 1
- Database :
- Complementary Index
- Journal :
- Revista de Historia Económica / Journal of Iberian & Latin American Economic History
- Publication Type :
- Academic Journal
- Accession number :
- 155360663
- Full Text :
- https://doi.org/10.1017/S0212610920000221