The New State and economic development (1930's and 40's): industrialisation without agrarian reform

Abstract

In the context of the debate about the difficulties in launching Portuguese industry in the first half of the XX century, especially in the 1930's and 40's, this articles seeks to discuss the reasons why the Portuguese economy was unable to take the successive opportunities offered (from the crisis of 1890-91 up to the Second World War) for take-off. Beginning with a brief analysis of the role played in this by dependency on abroad, it is suggested that the continued absence of agricultural modernisation (which resulted in industrialisation without agrarian reform) might be a critical factor in explaining the difficulties and characteristics of Portuguese industrialisation.