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The Isolation from the International Economy: Civil War and Autarkyautarky (1936–1951)

In: Between Empire and Globalization

Author

Listed:
  • Albert Carreras

    (Pompeu Fabra University)

  • Xavier Tafunell

    (Pompeu Fabra University)

Abstract

Spain was a closed economy during fifteen years. Initially it was so because of the Civil War—social revolution and war economy included. During Second World War closing was radical as foreign currency was very scarce and military alliances very risky. The new regime deployed a completely closed economy—an autarky—that was defined as a permanent and strategic choice for Spain. Consequently, Spain did not enjoy most benefits of post-war reconstruction, contrary to most Western European countries. This long autarky made a strong imprint in Spanish economy, difficult to overcome. It impoverished the country, it induced regressive distribution and increased inequality. Market intervention was widespread as well as black markets and rationing. The exchange rate was deeply altered, as never before nor after.

Suggested Citation

  • Albert Carreras & Xavier Tafunell, 2021. "The Isolation from the International Economy: Civil War and Autarkyautarky (1936–1951)," Palgrave Studies in Economic History, in: Between Empire and Globalization, chapter 0, pages 135-154, Palgrave Macmillan.
    • Handle: RePEc:pal:palscp:978-3-030-60504-9_6
    DOI: 10.1007/978-3-030-60504-9_6
    as

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