Skip to main content
×
Home
The Cambridge Economic History of Latin America
  • Export citation
  • Recommend to librarian
  • Recommend this book

    Email your librarian or administrator to recommend adding this book to your organisation's collection.

    The Cambridge Economic History of Latin America
    • Online ISBN: 9781139053945
    • Book DOI: https://doi.org/10.1017/CHOL9780521812894
    Please enter your name
    Please enter a valid email address
    Who would you like to send this to? *
    ×
  • Buy the print book

Book description

Volume one includes the colonial and independence eras up to 1850, linking Latin America's economic history to the pre-Hispanic, European, and African background. It also synthesizes knowledge on the human and environmental impact of the Spanish conquest, the evolution of colonial economic institutions, and the performance of key sectors of the colonial and immediate post-colonial economies. Finally, it analyses of the costs and benefits of independence.

Reviews

    • Aa
    • Aa
Refine List
Actions for selected content:
Select all | Deselect all
  • View selected items
  • Export citations
  • Download PDF (zip)
  • Send to Kindle
  • Send to Dropbox
  • Send to Google Drive
  • Send content to

    To send content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about sending content to .

    To send content to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about sending to your Kindle.

    Note you can select to send to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be sent to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

    Find out more about the Kindle Personal Document Service.

    Please be advised that item(s) you selected are not available.
    You are about to send:
    ×

Save Search

You can save your searches here and later view and run them again in "My saved searches".

Please provide a title, maximum of 40 characters.
×
  • 1 - The Global Economic History of European Expansion Overseas
    pp 5-42
  • DOI: https://doi.org/10.1017/CHOL9780521812894.003
  • View abstract
    Summary
    This chapter reviews three separable stands of a historiography written by economic and other historians designed to analyze connections between intercontinental commerce and colonization on the one hand, and the protracted but precocious industrialization of Western Europe on the other. It shows that this geographically bounded and Eurocentric paradigm for historical research is now "decadent" and people megaquestion can only be comprehensively and effectively addressed by relocating the whole enquiry into the recently reestablished discourse for the study of global economic history. Most of the ad hoc comments made by Marx on Asian societies are now regarded as little more than exemplary Eurocentric speculations of his time. Too many interpretations of outcomes flowing from expansion overseas concentrate on gains and virtually ignore costs. Marx found that the first transition from precapitalist to capitalist modes of production occurred in Western Europe. Finally, there is American bullion that started and sustained European expansion overseas.
  • 2 - African Connections with American Colonization
    pp 43-72
  • DOI: https://doi.org/10.1017/CHOL9780521812894.004
  • View abstract
    Summary
    From the seventeenth to the nineteenth century, Latin America's colonial economy developed in interaction with African economies, and especially through ties to West and Central Africa. For the Atlantic, ships under numerous European flags created a whole new set of interactions and connections. For the Central African regions of Loango and Angola, slave exports were large and grew throughout the eighteenth century. The trans-Atlantic slave trade was abolished by stages between 1807 and the 1850s. Slave prices paid on the African coast declined as Atlantic demand diminished and as the cost of circumventing the British antislaving squadron grew. African and Latin American economic experiences became tied in an inverse relationship through their participation in the Atlantic economy. For Latin America, the nineteenth century led into an era of neocolonial dependency and peripheral industrial transformation; for Africa, the experience was to be colonial rule and direct extraction by European powers.
  • 3 - The Pre-Columbian Economy
    pp 73-106
  • DOI: https://doi.org/10.1017/CHOL9780521812894.005
  • View abstract
    Summary
    The nature and quality of the data on the economic history of pre- Columbian Latin America is highly variable. This chapter compares and contrasts the various pre-Columbian economic institutions found in Mesoamerica, Central America, and South America, focusing on the most developed and highly integrated societies, such as the Aztec, Inca, and Maya. It also discusses smaller and less-known groups that vary markedly from the larger well-known groups. Reciprocal economic exchanges could also serve to create or sustain alliances among families or among groups. Markets typically occurred with complex states that had areas and populations too large to be based on the economic redundancy inherent in the domestic mode of production. One of the important resources of any economic system is the labor of its people. Individual labor that serves to support that individual and his/her familial dependents is implied in the discussion of agriculture, craft specialization, and trade.
  • 4 - Land Use and the Transformation of the Environment
    pp 107-142
  • DOI: https://doi.org/10.1017/CHOL9780521812894.006
  • View abstract
    Summary
    The Spaniards and the Portuguese came to the New World with the means to reproduce their societies and their landscapes. This chapter clarifies the mutual influences of three processes. First is the invasion of the Americas by alien humans and their companion species. Second is the transformation of the indigenous environments that resulted from that invasion. Third is the formation of a new economic order specifically organized around production for export. The indigenous societies, cultures, and physical environments did not simply provide the backdrop against which Spaniards, Portuguese, Africans, and castas played out their destinies as imperial governors, merchants, plantation owners, slaves, or tenants. The internal markets of the Spanish American world were also articulated by sea and land. The Spanish world has access to the Pacific as well as the Atlantic and the Caribbean. What developed very quickly was a colonial system with an American center of gravity, a Pacific rather than Atlantic orientation, and an American logic.
  • 5 - The Demographic Impact of Colonization
    pp 143-184
  • DOI: https://doi.org/10.1017/CHOL9780521812894.007
  • View abstract
    Summary
    The arrival of Europeans in the Americas resulted in what was perhaps the greatest demographic collapse in history. Racial mixing and changes to native production systems, social structures, and ideologies, though less quantifiable, played increasingly important roles in determining demographic trends. Demographic change among native peoples was strongly correlated with the intensity of Spanish immigration and settlement. The importation of African slaves was a response to the shortage of Indian labor, which derived from the absence of a substantial native population in pre-Columbian times or its decline in the early colonial period. The demographic impact of colonial rule was most devastating in the Caribbean, where most native groups became extinct within a generation. The end of the eighteenth century and the beginning of the nineteenth century was a watershed in the demographic history of Latin America. Colonization had not come to an end, and that many regions were still to experience its full demographic impact.
  • 6 - Labor Systems
    pp 185-234
  • DOI: https://doi.org/10.1017/CHOL9780521812894.008
  • View abstract
    Summary
    This chapter examines different forms of compulsory indigenous labor in post-conquest economies. It treats the development of hybrid systems based primarily on slave labor, focusing mainly on Portuguese America but also drawing cross-regional comparisons with distinct parts of Spanish America in different periods. The chapter addresses the development of hybrid systems based on wage labor, with a special emphasis on silver mining areas, colonial agricultural estates, and urban centers from the late sixteenth century to the eclipse of the colonial period. It also examines the expansion of slavery in non-plantation agriculture as well as the engagement of the nonslave population in urban labor markets. African slavery became an increasingly attractive labor option for colonial entrepreneurs over the course of the sixteenth century, as several factors converged to fuel the expansion of a trans-Atlantic trade. The early history of labor systems introduced other characteristics with long-term effects on economic, social, and demographic trends in Latin America.
  • 7 - Political Economy and Economic Organization
    pp 235-274
  • DOI: https://doi.org/10.1017/CHOL9780521812894.009
  • View abstract
    Summary
    This chapter focuses on aspects of the political economy of the Spanish and Portuguese empires that help to explain both the initial success and subsequent longevity of colonial rule, as well as the long-term stagnation of the colonial economies. It shows that Iberian institutions tended to discourage productivity advance. The chapter also argues that variation in productivity levels across the Iberian colonies can be attributed to the short-term gains achieved by exploiting readily accessible natural resources, followed by long-term stagnation due to institutional constraints. It sketches the formation and evolution of the Iberian equilibrium in the New World by looking at the major challenges that had to be overcome. The chapter also analyzes the economic impact of the institutional complements to this imperial equilibrium, the development of land tenure and property rights in land, the evolution of labor and status hierarchies, and salient characteristics of the Iberian legal systems. Institutional modernization did not coincide with political independence in Latin America.
  • 8 - Agriculture and Land Tenure
    pp 275-314
  • DOI: https://doi.org/10.1017/CHOL9780521812894.010
  • View abstract
    Summary
    The greater political, economic, and agricultural development of the two large native empires, and the central position their territories had under the new colonial regime, justify making them the basic point of reference in analysis of agrarian systems and the European conquest. The most impressive example of the productivity of wetland systems in the entire continent, and perhaps in the entire preindustrial agricultural world, was that of the chinampas in the Valley of Mexico. A remarkable aspect of colonial agriculture was the transfer of European techniques of irrigation in certain cases in combination with pre-Colombian indigenous techniques. This chapter reviews trends in agricultural production influenced by the unceasing fall of the indigenous population, beginning with subsistence production by the indigenous population and the transfer of surplus output as revenues to the encomiendas. The mercedes constituted, until 1591, the only mechanism that the colonial state employed to shape an agrarian territory filled with privately owned European agricultural enterprises.
  • 9 - The Mining Industry
    pp 315-356
  • DOI: https://doi.org/10.1017/CHOL9780521812894.011
  • View abstract
    Summary
    This chapter undertakes a comparative analysis of the characteristics of silver mining during the colonial period in the two great productive zones of Latin America, Mexico and the Andes. The indigenous population provided manpower for the silver mines by way of two distinct institutional arrangements, slavery and encomienda. Despite the occasional interruptions it caused, the war in general had two positive consequences for the mining industry. In his fundamental work on Bourbon Mexico, David Brading argues that growth periods in the mining industry corresponded to cycles of discovery, abandonment, and renovation of mines. The chapter confirms the extreme dependence on state policies of the Latin American colonial mining industry, as well as the disparate regional impacts of such policies. It finally reviews the development of enterprises that, like those in other colonial economic sectors, could not fairly be characterized as efficient, but whose arrangements were nonetheless rational given the resources at hand.
  • 10 - Premodern Manufacturing
    pp 357-394
  • DOI: https://doi.org/10.1017/CHOL9780521812894.012
  • View abstract
    Summary
    The late industrial development of Latin America poses important questions for the study of early manufacturing in the region. This chapter focusses on the study of two manufacturing sectors such as sugar processing and textiles to highlight the differences and similarities between manufacturing activity in Latin American and that in other regions up to about 1850. Sugar production, together with gold and silver mining, was clearly the principal economic motivation for the conquest and colonization of the Americas. By the early sixteenth century, Spanish and Portuguese settlers had already introduced sugarcane to Puerto Rico, Cuba, and Brazil. Whereas sugar was a completely unknown product before the arrival of the Europeans, textile production existed in pre-Hispanic America before the conquest. Changing economic conditions brought about regional changes in obraje production. The devastating effects of the Wars of Independence on the Mexican economy affected the development of the cotton textile industry.
  • 11 - Commercial Monopolies and External Trade
    pp 395-422
  • DOI: https://doi.org/10.1017/CHOL9780521812894.013
  • View abstract
    Summary
    The first image that comes to mind when one thinks of trade in Latin America during the colonial period is that of the Spanish imperial trade monopoly with its axis in the Casa de Contratación in Seville. This chapter studies the impact of the colonial trading system on the prices and volume of trade. The term 'mercantilism' refers the set of principles that guided Spanish and Portuguese economic policy from the sixteenth century to the eighteenth century. The inoperability of the trade monopoly created the need for substantial modifications to the trade system between the metropolis and the colonies in the New World. At the beginning of the eighteenth century, the reticence of Spain to cede to pressures from foreign powers impeded a substantial reform of the colonial trade system. The chapter finally focuses on the costs of Spanish and Portuguese commercial policies and compares them to alternative trade practices developed in the colonies.
  • 12 - Money, Taxes, and Finance
    pp 423-460
  • DOI: https://doi.org/10.1017/CHOL9780521812894.014
  • View abstract
    Summary
    This chapter shows that the economic recession of the first decades after independence was deep, recovery in Latin America actually began from mid-century. It also provides an overview of the diverse and parallel trajectories of the fiscal and financial history of the Latin American nations in their transition from the colonial empires of the eighteenth century to the independent states of the nineteenth century. The chapter discusses the colonial monetary, fiscal, and financial regimes, and focusses on the tax reforms of the early independent era and the emergence of chronic public deficits. Both the Spanish and Portuguese monarchies had long reaped substantial fiscal benefits from their overseas colonies. The chapter also explains the gradual establishment of tax states with a more consistent capacity to generate revenue. It finally reviews the debt cycles of the Latin American states in the nineteenth century and the changing priorities of public expenditures.
  • 13 - The Economic Consequences of Independence in Latin America
    pp 461-504
  • DOI: https://doi.org/10.1017/CHOL9780521812894.015
  • View abstract
    Summary
    Independence, achieved in most of Latin America between 1808 and 1825, and the resulting insertion into the international economy appear as the two most important events in assessments of economic performance in nineteenth-century Latin America. This chapter assesses grand interpretations or meta-narratives, centered on the theme of Latin America in the U.S. mirror. Stanley and Barbara Stein, in their widely read book The Colonial Heritage of Latin America, developed an interpretive framework for understanding Latin American independence. Geography, public policies, and political institutions all mattered in shaping Latin American countries' long-run economic performance. The chapter proposes the alternative approach of evaluating post-independence Latin American performance in the African and Asian mirrors. It also examines the empirical evidence on the main consequences of independence, resulting from the removal of the colonial burden and the opening up to the international economy. The way independence was achieved and the previous degree of commitment to colonial mercantilism conditioned the new republics' performance.
  • Bibliographical Essays
    pp 505-580
  • DOI: https://doi.org/10.1017/CHOL9780521812894.016
  • View abstract
    Summary
    This bibliography contains a list of reference articles and books that introduce readers to reconfigured meta-narratives concerned with connections between European expansion overseas and the long-run economic development of Western European economies between 1415 and 1825. Origins that can be traced back to histories of exploration, expansion, and commerce in the Middle Ages in the maritime kingdoms of Western Europe are surveyed in Felipe Armesto-Fernandez, Before Columbus. Exploration and Colonization from the Mediterranean to the Atlantic; Robert Bartlett, and The Making of Europe. Most of the literature on manufacturing in Latin America during the colonial period and early nineteenth century deals with specific manufacturing sectors in particular regions. A general assessment of historical backwardness in Latin America can be found in Victor Bulmer-Thomas, The Economic History of Latin America since Independence, and Angus Maddison, The World Economy. A Millennial Perspective provides quantitative evidence to place post-independence Latin America in the international context.

This list contains references from the content that can be linked to their source. For a full set of references and notes please see the PDF or HTML where available.


NicholasCanny, , ed., Europeans on the Move: Studies on European Migration, 1500–1800 (London, 1994).

DavidEltis, and David Richardson, “West Africa and the Transatlantic Slave Trade: New Evidence of Long-Run Trends,” in Eltis and Richardson, eds., Routes to Slavery (London, 1997)

DavidEltis, , “Free and Coerced Transatlantic Migrations: Some Comparisons,” American Historical Review 88 (1983)

Henry A. Gemery, and Jan S. Hogendorn, “The Atlantic Slave Trade: A Tentative Economic Model,” Journal of African History 15, 2 (1974)

JanHogendorn, and Marion Johnson, The Shell Money of the Slave Trade (Cambridge, 1986).

PatrickManning, , Slavery, Colonialism, and Economic Growth in Dahomey, 1640–1960 (Cambridge, 1982).

Colin A. Palmer, , Slaves of the White God: Blacks in Mexico, 1570–1650 (Cambridge, MA, 1976).

Johannes Menne Postma, , The Dutch in the Atlantic Slave Trade, 1600–1815 (Cambridge, 1990)

Paul S. Goldstein, , “Exotic Goods and Everyday Chiefs: Long-Distance Exchange and Indigenous Sociopolitical Development in the South Central Andes,” Latin American Antiquity 11 (2000)

AngusMaddison, , The World Economy: A Millennial Perspective (Paris, 2001).

D. J.Meltzer, et al., “On the Pleistocene Antiquity of Monte Verde, Southern Chile,” American Antiquity 62 (1997).

PaysonSheets, , “Provisioning the Ceren Household: The Vertical Economy, Village Economy, and Household Economy in the Southeastern Maya Periphery,” Ancient Mesoamerica 11 (2000).

Richard H. Steckel, and Jerome C. Rose, eds., The Backbone of History: Health and Nutrition in the Western Hemisphere (Cambridge, 2002).

ArnoldBauer, , “Rural Workers in Spanish America: Problems of Peonage and Oppression,” Hispanic American Historical Review 59, 1 (1979).

LairdBergad, , Fe Iglesias García, and María del Carmen Barcia, The Cuban Slave Market, 1790-1880 (Cambridge, 1995).

DavidGalenson, , Traders, Planters, and Slaves: Market Behavior in Early English America (Cambridge, 1986)

LymanJohnson, , “Slave and Free Labor in Buenos Aires, 1770–1815,” International Review of Social History 40 (1995).

FranklinKnight, , “Slavery and Lagging Capitalism in the Spanish and Portuguese American Empires, 1492–1713,” in B. Solow, ed., Slavery and the Rise of the Atlantic System (Cambridge, 1991).

ErickLanger, , “The Barriers to Proletarianization: Bolivian Mine Labour, 1826–1918,” International Review of Social History 41 (1996).

João José Reis, , “‘The Revolution of the Ganhadores’: Urban Labour, Ethnicity and the African Strike of 1857 in Bahia, Brazil,” Journal of Latin American Studies 29 (1997).

AnnWightman, , Indigenous Migration and Social Change (Durham, NC, 1990).

John H. Coatsworth, , “Obstacles to Economic Growth in Nineteenth-Century Mexico,” American Historical Review 83, 1 (February 1978).

FriedrichKatz, , ed., Riot, Rebellion, and Revolution: Rural Social Conflict in Mexico (Princeton, NJ, 1988).

AngusMaddison, , The World Economy: Historical Statistics (Paris, 2003).

GabrielTortella, and Francisco Comin, “Fiscal and Monetary Institutions in Spain (1600–1900),” in Michael D. Bordo and Roberto Cortés Conde, eds., Transferring Wealth and Power from the Old to the New World: Monetary and Fiscal Institutions in the 17th through 19th Centuries (Cambridge, 2001).

David A. Brading, , “Las minas de plata en el Perú y México colonial. Un estudio comparativo,” Desarrollo Económico 11, 41 (1971).

Dennis O. Flynn, , “Comparing the Tokagawa Shogunate with Hapsburg Spain: Two Silver-Based Empires in a Global Setting,” in James D. Tracy, ed., The Political Economy of Merchant Empires: State Power and World Trade, 1350–1750 (Cambridge, 1991).

Dennis O. Flynn, and Arturo Giráldez, “Cycles of Silver: Global Economic Unity through the Mid-18th Century,” Journal of World History 13, 2 (Fall 2002).

Earl J. Hamilton, , American Treasure and the Price Revolution in Spain, 1501–1650 (Cambridge, MA, 1934).

Robert Stephen Haskett, , “‘Our Suffering with the Taxco Tribute’: Involuntary Mine Labor and Indigenous Society in Central New Spain,” Hispanic American Historical Review 71, 3 (1991).

TristanPlatt, , “The Alchemy ofModernity, Alonso Barba’s Copper Cauldrons and the Independence of Bolivian Metallurgy (1790–1890),” Journal of Latin American Studies 32 (2000).

Margaret E. Rankine, , “The Mexican Mining Industry in the Nineteenth Century with Special Reference to Guanajuato,” Bulletin of Latin American Research 11, 1 (1992).

John J. TePaske, and Herbert S. Klein, “The Seventeenth Century Crisis in New Spain: Myth or Reality?Past and Present 90 (1981).

ClaudioVeliz, , “Egaña, Lambert and the Chilean Mining Associations of 1825,” Hispanic American Historical Review 55, 4 (Nov. 1975).

AuroraGómez-Galvarriato, , “Industrial Development under Institutional Frailty: The Development of the Mexican Textile Industry in the Nineteenth Century,” Revista de Historia Economica (1999).

Richard E. Greenleaf, , “The Obraje in the Late Mexican Colony,” The Americas 23, 3 (Jan. 1967).

RichardSalvucci, , “Enterprise and Economic Development in Colonial Mexico: The Case of the Obrajes,” The Journal of Economic History (March 1981).

RonaldFindlay, and Kevin H. O’Rourke, “Commodity Market Integration, 1500–2000” (Working Paper, National Bureau of Economic Research, 2001).

LeonardGomes, , Foreign Trade and the National Economy (London, 1987)

Clarence H. Haring, , Trade and Navigation between Spain and the Indies in the Time of the Hapsburgs (Cambridge, MA, 1918).

MurdoMacLeod, , “Spain and America: The Atlantic Trade – 1492–1720,” in Cambridge History of Latin America, vol. 1 (Cambridge, 1984), chap. 10

Andrée Mansuy-Diniz Silva, , “Imperial Re-Organization, 1750–1808,” in Leslie Bethell, ed., Colonial Brazil (Cambridge, 1987).

Geoffrey J. Walker, , Spanish Politics and Imperial Trade, 1700–1789 (London, 1979).

DaronAcemoglu, , Simon Johnson, and James A. Robinson, “Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution,” Quarterly Journal of Economics 117, 4 (2002).

BillAlbert, , South America and the World Economy from Independence to 1930 (London, 1983).

LeslieBethell, , ed., The Cambridge History of Latin America (Cambridge, 1985), vol. 3.

Brown, Hispanic American Historical Review 81, 34 (2001).

VictorBulmer-Thomas, , The Economic History of Latin America since Independence, 2nd ed. (Cambridge, 2003).

PaulCollier, and Jan Willem Gunning, “Explaining African Economic Performance,” Journal of Economic Literature 37, 1 (1999).

Roberto Cortés Conde, and George T. McCandless, “Argentina: From Colony to Nation. Fiscal and Monetary Experiences from the Eighteenth and Nineteenth Centuries,” in Michael D. Bordo and Roberto Cortés-Conde, eds., Transferring Wealth and Power from the Old to the New World. Monetary and Fiscal Institutions in the 17th through the 19th Centuries (Cambridge, 2001).

RafaelDobado, and Gustavo Marrero, on the other hand, argue that there was export-led growth in colonial Mexico in “Minería, crecimiento y costes de la independencia en México,” Revista de Historia Economica 19, 3 (2001).

Stanley L. Engerman, , Stephen H. Haber, and Kenneth L. Sokoloff, “Inequality, Institutions, and Differential Paths of Growth among New World Economies,” in Claude Menard, ed. Institutions, Contracts, and Organizations (Cheltenham, 2000).

RonaldFindlay, , “International Trade and Factor Mobility with an Endogenous Land Frontier. Some General Equilibrium Implications of Christopher Colombus,” in Elhanan Helpman and J. Peter Neary, eds., Theory, Policy and Dynamics in International Trade (Cambridge, 1993).

John Luke Gallup, , Jeffrey D. Sachs, and Andrew D. Mellinger, “Geography and Economic Development,” International Regional Science Review, 22, 2 (1999).

Irving B. Kravis, , “Trade as a Handmaiden of Growth: Similarities between the Nineteenth and Twentieth Centuries,” Economic Journal 80 (1970).

PaulKrugman, and Anthony J. Venables, “Globalization and the Inequality of Nations,” Quarterly Journal of Economics 110, 4 (1995).

Peter C. Mancall, and Thomas Weiss, “Was Economic Growth Likely in Colonial British North America?Journal of Economic History 59, 1 (1999).

CarlosMarichal, , “Beneficios y costes fiscales del colonialismo: las remesas americanas a España, 1760–1814,” Revista de Historia Económica 15, 3 (1997).

John W. McArthur, and Jeffrey D. Sachs, “Institutions and Geography: Comment on Acemoglu, Johnson and Robinson (2000)” (NBER Working Paper Series, no. 8114, 2001).

CarlosNewland, , “Exports and Terms of Trade in Argentina, 1811–1870,” Bulletin of Latin American Research 17, 3 (1998).

CarlosNewland, and Barry Poulson, “Purely Animal: Pastoral Production and Early Argentine Economic Growth 1825–1865,” Explorations in Economic History 35, 3 (1998).

CarlosNewland, , “La educación elemental en Hispanoamérica: Desde la independencia hasta la centralización de los sistemas educativos nacionales,” Hispanic American Historical Review 71, 2 (1991).

Douglass C. North, , “Institutions and Economic Growth: An Historical Introduction,” World Development 17, 9 (1989).

Douglass C. North, , Institutions, Institutional Change and Economic Performance (Cambridge, 1990).

DaniRodrik, , Arvind Subramanian, and Francesco Trebbi, “Institutions Rule: The Primacy of Institutions over Integration and Geography in Economic Development” (IMF Working Paper 02/189, November 2002).

Richard J. Salvucci, , “Origins and Progress of U.S.–Mexican Trade, 1825–1884: ‘Hoc opus, hic labor est,’Hispanic American Historical Review 71, 4 (November 1991).

IrvingStone, , “British Direct and Portfolio Investment in Latin America before 1914,” Journal of Economic History 37, 3 (1977).

Jeffrey G. Williamson, , “Real Wages, Inequality, and Globalization in Latin America before 1940,” Revista de Historia Económica 17 (1999).