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Globalisation and Economic Growth in the Third World: Some Evidence from Eighteenth-Century Mexico

Published online by Cambridge University Press:  29 July 2005

CARLOS ALEJANDRO PONZIO
CARLOS ALEJANDRO PONZIO
Affiliation:
Universidad Autónoma de Nuevo León, Secretaría de Desarrollo Económico, Nuevo León.
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Abstract

This article studies the connection between globalisation and economic growth in eighteenth-century Mexico. This was a period of globalisation in Mexico, characterised by market integration and growth in international trade. I estimate economic growth at that time and explore its relationship with the dominant export of the epoch, silver. The results show that Mexico experienced rapid economic growth in the eighteenth century and, furthermore, that exports caused that growth. During the period of Bourbon reforms economic growth improved, but not dramatically. Mining ceased to be the engine of growth by the end of the century.

Type
Research Article
Information
Journal of Latin American Studies , Volume 37 , Issue 3 , August 2005 , pp. 437 - 467
Copyright
2005 Cambridge University Press

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Footnotes

The author is grateful to Jeffrey Williamson, John Coatsworth and Dwight Perkins, who read and commented on several versions of this article, along with others too numerous to name here. Thanks are also due to an anonymous JLAS referee whose comments helped to improve the article.