What were the effects of mercantilism during colonial times?

Mercantilism was the economic theory, dominant in the seventeenth and early eighteenth centuries, that a nation's power was based upon the amount of wealth it could accumulate. This principle led European nations to seek favorable balances of trade with other nations, which in turn led them to enact tariffs to encourage domestic manufacturing and to crowd out foreign imports. It also led Europeans to seek colonies, which would be captive markets and sources of raw material. In terms of the effects on the colonies themselves, mercantilism had two major consequences. The first was that England in particular (and this question seems to be referring to the English colonies) enacted laws that tightly regulated trade with the colonies. Known as the Navigation Acts, they were passed in the seventeenth century, largely to cut off Dutch competition. These laws were seldom well-enforced, but they provided a basis for the relationship between colonies and metropole that continued until the American Revolution. The second consequence was that many of the colonies developed cash crop economies in response to market demands in Europe. The most significant of these were the sugar islands in the Caribbean, Barbados in particular, and the tobacco-rich Chesapeake. Of course, this led to the implementation of slavery in these regions, and the expansion of the Atlantic slave trade in the eighteenth century.