Capital Formation in Machinery in Latin America, 1890-1930

• 成果类型: Article
• 署名作者: Pompeu Fabra University
• 刊物名称: JOURNAL OF ECONOMIC HISTORY
• ISSN/ISSBN: 0022-0507
• DOI: 10.1017/S0022050709001338
• 发表日期: 2009
• 页码: 928-950
• 关键词: equipment investment; Baring crisis; foreign-trade; institutions; GROWTH; rise

摘要

Investment in machinery is a key component in the analysis of long-term economic growth during the spread of industrialization. This article offers consistent annual series on the magnitude of machinery imports per capita into all Latin American countries for the period 1890-1930. Analysis of these series shows that machinery imports diverged across countries from 1890 through 1913. After 1913 a number of the more backward countries experienced rapid growth in machinery imports. These large differences in machinery investment contributed to unequal development across the Latin American countries.