Colonialism reversed certain levels of development in most of the colonized regions and in particular the North American region. Scholars argue that European colonialism created economical differences in regions throughout their respective colonies. To explain the economic reversal scholars have focused on the conditions that were in the colonized regions prior to the colony invading as well as after and in this case cause of the American Revolution.
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The key Latin America regions failed to get the entrenchment of the mercantilism institutions during the colonization period. the Spanish prior to the 18th century colonized heavily areas with complex civilization and never seemed to change mush of the civilization in comparison with the British counterparts who much favored areas with no civilization. In turn, most of the Spanish colonies faced economic problems after colonization as the institutions left were largely distorted.
Elliott, J. H. (2007). Empires of the Atlantic world: Britain and Spain in America, 1492-1830. Yale University Press.