Sammanfattning
We provide a natural resource explanation for the divergence of the Portuguese economy relative to other European countries before the Second World War. First, we demonstrate that a lack of domestic resources meant that Portugal experienced limited and unbalanced growth during the age of steam. Imports of coal were prohibitively expensive for inland areas. Coastal areas industrialized through steam but were constrained by limited demand from the interior. Second, we show that after the First World War, when other coal-poor countries turned to hydro-power, Portugal relied on coal-based thermal-power, creating a vicious circle of high-energy prices and labor-intensive industrialization.
Originalspråk | engelska |
---|---|
Sidor (från-till) | 85-105 |
Antal sidor | 21 |
Tidskrift | European Review of Economic History |
Volym | 25 |
Nummer | 1 |
DOI | |
Status | Published - 2021 |
Bibliografisk information
Publisher Copyright:© 2020 The Author(s) 2020. Published by Oxford University Press on behalf of the European Historical Economics Society. All rights reserved. For permissions.
Ämnesklassifikation (UKÄ)
- Nationalekonomi