Was There a Common Latin Pattern of Development? Evidence from Italy, Portugal, and Spain 1850-1913
We analyze GDP estimates for Italy, Portugal, and Spain during the period 1850-1913. The time series analysis indicates that Italy experienced a break in trend growth during the late 1890s while Spain had constant, deterministic growth during this period. Economic growth in Portugal is stochastic or deterministic depending on the choice of GDP series. Overall, the analysis suggests that there was not a common Latin pattern of development.
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