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Decades of Stop and Go

In: Institutions and Small Settler Economies

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  • Andre Schlueter

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.”

Suggested Citation

  • Andre Schlueter, 2014. "Decades of Stop and Go," Palgrave Macmillan Books, in: Institutions and Small Settler Economies, chapter 0, pages 153-198, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-44567-4_5
    DOI: 10.1057/9781137445674_5
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