Decades of Stop and Go

Andre Schlueter
Authors registered in the RePEc Author Service: André Schlüter

Chapter Chapter 5 in Institutions and Small Settler Economies, 2014, pp 153-198 from Palgrave Macmillan

Abstract: Abstract Previously presented results have outlined major reasons for the great divergence between New Zealand and Uruguay. The former’s economy benefited from substantial support for its agrarian sector under the umbrella of its traditional social setup, but received only limited incentives for export-oriented industrialization. On the other hand, the latter’s economic development was severely hampered through open rent-seeking, rising social conflict, and a crumbling state. Consequently, at the beginning of the early 1970s, the two settler economies represented something like “the tarnished beauty and the beast.”

Keywords: Exchange Rate; Gross Domestic Product; Real Exchange Rate; Real Interest Rate; Public Debt (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-44567-4_5

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DOI: 10.1057/9781137445674_5

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