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In September 1985 , the Mexican economy suffered an additional setback when earthquakes severely damaged the capital , killing and injuring thousands . But an interesting thing is that although both industrial and developing economies did face financial crises of various sorts in the ' 70s and ' 80s , in the 1990s , it looks like developing countries have , to a greater extent , started exerting a monopoly on these sorts of crises . When Portugal joined the European Union in January 1986 , it soon came to appreciate the benefits of belonging to a wider integrated market , as its economy received a healthy shot in the arm . Castile 's economy remained a rural one stressing the export of raw materials : above all , wool , but also leather , wax , honey , wine , and olive oil .