IDEAS home Printed from https://ideas.repec.org/h/spr/frochp/978-3-031-60792-9_8.html
   My bibliography  Save this book chapter

Spain’s Financial Position in the First Globalization

In: A Millennial View of Spain’s Development

Author

Listed:
  • Leandro Prados de la Escosura

    (Carlos III University of Madrid)

Abstract

Spain’s financial position during the late nineteenth and early twentieth century has usually been depicted as one of persistent deficit on current account, resulting from the country’s integration into international commodity and factor markets, which would have slowed down economic growth. In this chapter, this proposition is tested on the basis of a reconstruction of the Spanish balance of payments on current account. At odds with this interpretation, during the first globalization, opening up until 1890 allowed a net capital inflow that made it possible to meet the demand for investment boosting economic performance. Conversely, current account reversals in a context of macroeconomic domestic imperfections help explain the economic slowdown at the turn of the century.

Suggested Citation

  • Leandro Prados de la Escosura, 2024. "Spain’s Financial Position in the First Globalization," Frontiers in Economic History, in: A Millennial View of Spain’s Development, chapter 0, pages 323-375, Springer.
    • Handle: RePEc:spr:frochp:978-3-031-60792-9_8
    DOI: 10.1007/978-3-031-60792-9_8
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:frochp:978-3-031-60792-9_8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.