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Capital Formation in Machinery in Latin America, 1890-1930

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  • Tafunell, Xavier

Abstract

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.

Suggested Citation

  • Tafunell, Xavier, 2009. "Capital Formation in Machinery in Latin America, 1890-1930," The Journal of Economic History, Cambridge University Press, vol. 69(4), pages 928-950, December.
    • Handle: RePEc:cup:jechis:v:69:y:2009:i:04:p:928-950_00
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    Cited by:

    1. Xavier Tafunell & Cristián Ducoing, 2016. "Non-Residential Capital Stock in Latin America, 1875–2008: New Estimates and International Comparisons," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 56(1), pages 46-69, March.
    2. Douglas L. Campbell, 2010. "History, Culture, and Trade: A Dynamic Gravity Approach," EERI Research Paper Series EERI_RP_2010_26, Economics and Econometrics Research Institute (EERI), Brussels.
    3. María Inés Barbero & Andrea Lluch & Sandra Kuntz Ficker, 2014. "The Contribution of Exports to the Mexican Economy During the First Globalisation (1870–1929)," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 54(2), pages 95-119, July.
    4. Dante Aldrighi & Renato P. Colistete, 2013. "Industrial Growth and Structural Change: Brazil in a Long-Run Perspective," Working Papers, Department of Economics 2013_10, University of São Paulo (FEA-USP).
    5. Xavier Tafunell & Cristián Ducoing, 2015. "Non-residential capital stock in Latin America. 1875-2008," Economics Working Papers 1472, Department of Economics and Business, Universitat Pompeu Fabra.

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