The Atlantic slave trade was integral to the colonial economic systems, particularly in the Americas, where it provided the labour force essential for the plantation economies. The trade not only facilitated the growth of the plantation system but also generated significant profits for European merchants and contributed to the accumulation of capital that would later fuel the Industrial Revolution. In the colonies, the reliance on slave labour stifled the development of a diversified economy and entrenched economic models based on export-oriented agriculture. The demographic impact was also substantial, leading to a significant African diaspora in the Americas with lasting cultural and social implications.

Mercantilist policies, with their focus on enriching the mother country, directly influenced the development of infrastructure in the colonies. Infrastructures such as ports, roads, and warehouses were developed to facilitate the efficient extraction and transportation of raw materials back to Europe. The need to protect trade routes and mercantile interests also led to the construction of forts and naval bases. However, mercantilism often meant that infrastructure development was skewed towards the export economy rather than addressing local needs, resulting in a colonial legacy of infrastructure that did not necessarily support the post-independence economic development of these nations.

The Bourbon Reforms, instituted in the mid-18th century, sought to restructure the Spanish colonies' economies to increase efficiency and revenue for the Spanish crown. These reforms reduced the power of the local elites and established more direct control from Spain, often leading to increased tax burdens on the colonial populace. The reforms also aimed to diminish the smuggling that had undercut Spain’s mercantilist policies, by reorganising and tightening control over trade. They encouraged the development of new industries in the colonies and attempted to diversify the economies beyond the mining sector. However, these reforms also sparked discontent among various social groups, which contributed to the growth of independence movements.

The plantation economy in the Caribbean established a rigid social hierarchy based on race, land ownership, and economic power. At the top were European planters and merchants, followed by a small class of free people of colour, and at the bottom were the enslaved Africans. This system entrenched racial divisions and created a society in which white supremacy was legally and culturally institutionalised. The plantation economy also fostered an urban-rural divide, with cities being administrative and trade centres, while the countryside was dominated by plantation agriculture. Moreover, it shaped cultural norms and social relations in the region that lasted well beyond the end of colonial rule.

The mita system, inherited from the Incan civilisation and adapted by Spanish colonial administrators, had profound effects on the Andean region. It enforced a labour draft which significantly impacted the local indigenous population, causing demographic shifts due to high mortality rates in demanding labour sectors like mining. Economically, it facilitated the extraction of vast quantities of silver, especially from Potosí, which became a cornerstone of the Spanish colonial economy. However, the system also disrupted traditional agriculture and local economies, as adult male workers were often absent for extended periods, which affected the local food production and community structures.