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1898: The “Fin de Siècle” Crisis

In: Historical Turning Points in Spanish Economic Growth and Development, 1808–2008

Author

Listed:
  • Pablo Martín-Aceña

    (University of Alcalá)

  • Inés Roldán Montaud

    (CSIC, Instituto de Historia)

Abstract

The year 1898 was the year of the disaster. In two naval battles—one in the Caribbean and the other in the Pacific—the Spanish fleet was destroyed and Spain lost its remaining colonies: Cuba, Puerto Rico and the Philippines. The defeat, which brought an end to the nation’s imperial status, had a profound impact on the fabric of the country. It led to an identity crisis, with the awareness that the nation was politically weak and economically backward. The year 1898 is also a turning point because the defeat did not in fact lead to the collapse of the economy. In the decade and a half before World War I, the Spanish economy grew rapidly in response to a “regeneration” drive and a favourable international economic environment.

Suggested Citation

  • Pablo Martín-Aceña & Inés Roldán Montaud, 2020. "1898: The “Fin de Siècle” Crisis," Palgrave Studies in Economic History, in: Concha Betrán & Maria A. Pons (ed.), Historical Turning Points in Spanish Economic Growth and Development, 1808–2008, chapter 3, pages 53-88, Palgrave Macmillan.
    • Handle: RePEc:pal:palscp:978-3-030-40910-4_3
    DOI: 10.1007/978-3-030-40910-4_3
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