Industry and economic backwardness in Portugal (1800-25): a structural perspective

Abstract

The period immediately after the French invasions has been considered as determinantal to explain Portuguese economic backwardness. Nevertheless, a deeper analysis of the available data, concerning the conjunctural fluctuations, shows that the mercantile collapse occurred might not have been the only reason for the blockage of both industry and economic development. On the one hand, the fluctuations are not so wide as in general has been assumed; on the other hand, a set of structural characteristics, either economic or social, e. g. the smallness of the domestic market and the State's lack in strength of purpose, has hindered the progress and modernisation of industry and, consequently, the progress and modernisation of economy.