Couyoumdjian, Juan PabloDíaz, Diego A.Larroulet Vignau, Cristián2023-03-222023-03-222022Couyoumdjian, J., Larroulet, C., & Díaz, D. (2022). Couyoumdjian, J., Larroulet, C., & Díaz, D. (2022). Another case of the middle-income trap: Chile, 1900-1939. Revista De Historia Economica - Journal of Iberian and Latin American Economic History, 40(1), 5-33. doi:10.1017/S0212610920000221, 1900–1939. Revista De Historia Economica - Journal of Iberian and Latin American Economic History, 40(1), 5-33. doi:10.1017/S0212610920000221https://repositorio.udd.cl/handle/11447/7131This paper studies the evolution of the Chilean economy in the late 19th and early 20th century, a period when the country's convergence with developed countries came to an end. We analyse this problem in the context of the modern literature on the middle-income trap. The social, political and economic history of Chile between 1875 and 1939 is examined and the presence of most of the factors associated with the middle-income trap is found. We complement this narrative through a quantitative analysis based on the synthetic control method and argue that the process of state-led industrialisation undertaken in the country leading to the formation of CORFO was a key economic and political event. Our work presents some general lessons for developing countries facing a similar context.32 p.enEconomic and institutional changeMiddle-income trapChileArticlehttps://doi.org/10.1017/S0212610920000221