The Economy of Modern Malta: From the Nineteenth to the Twenty-First Century (Palgrave Studies in Economic History)

This book provides the first wide-ranging account of the Maltese economy in the modern era, from colonialism to European Union membership. It sets arguments about growth and development, and the impact and legacy of colonization, against detailed histories of agriculture, manufacturing and trade, and different economic policy regimes. It is based on volumes of newly collected archival evidence and the latest thinking in economic history. By extending coverage up to the present, the book explains how one of the world's smallest nation-states achieved lasting economic development, quintupling its per capita income level since 1970, when many other postcolonial and advanced economies stagnated. Paul Caruana Galizia is a Marie Curie Early-Career Fellow in the Institute of Economic History at the Humboldt University of Berlin, Germany. He is also the author of Mediterranean Labor Markets in the First Age of Globalization. 1. Introduction: Development in the Long Run Economics and Maltese History Development under Colonialism Critique of Colonial Rule The Colonial Economy in Comparative Perspective Development in Post-Colonial Malta 2. Agriculture, 1800-1964 Geographical Setting Agricultural Output and Productivity Agriculture during World War II Attempts at Agricultural Modernization Land and Labor in Agriculture 3. Trade and Industry, 1800-1938 The Role of the Colonial Government Deindustrialization and the Fate of Cotton Handicrafts Manufacturing Failure British Military Expenditure and the Dockyards The Entrept: Coaling, Shipping, and Banking Industrial Diversification in the Interwar Period 4. The State and the Economy, 1938-1986 The Costs of World War II Reconstruction and Early Development Planning Independence Planning and Industry Consolidating State Control 5. The Liberal Age, 1987-Present Malta's Liberal Transition: When and Why? Inequality and Welfare Globalization and Liberalization Structural Change 6. Final Remarks Economic Institutions in Contemporary Malta