The length of the maturity cycle also becomes a massive factor for things like technological advancement and productive forces. If a goblin matures in 4 years, and at that point desires to cut themselves loose and become productive, you have a very limited time in which to impart education. At scale, this is mostly an Industrial Era-onward thing, but it exists at small scale even before that.
The value of all production is basically dictated by this formula: (Time to rear child to an educatable level + Time required to Educate the child)/(Total expected production from lifespan).
The 6-12 years of schooling we see through most of the industrial era is probably completely impossible for Goblins - in the industrial era, this makes it impossible for goblin society to develop an industrial working class. But even before then, you're looking at things like apprenticeships among craftsmen being huge periods of time relative to a goblin. If a Blacksmith's Apprenticeship takes 3 years, for a human that's ok - send your 12 year old kid off, by the time he's 15 he's good. But if a goblin takes say 3 years to reach the equivalent development of a 9 year old, having them take another 3 years to apprentice themselves to a blacksmith becomes the equivalent of that 15 year old having to study until they're 24. Goblin Society just can't afford that kind of resource drain, so probably never develops that level of manufacturing.
Elves, on the other hand, have an absolutely insane turnover here - their maturity does bring a steeper initial cost, but assuming that 'being an elf' isn't a learning disability, they will learn things incredibly fast comparative to the expected 'productive uptime.' This means that education and advanced manufacturing becomes a far more valuable thing for Elven society - as you raise the upper limit for age, and lower the lower limit for being able to start learning, your society will start developing an even greater focus on advanced learning.