RHE 2012 n. 03 invierno

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Archivo Abierto Institucional de la Universidad Carlos III de Madrid: RHE V. 30 Nº 3 invierno 2012
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ARTÍCULOS
CONTRAPORTADA

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Now showing 1 - 6 of 6
  • Publication
    Contraportada [Revista de Historia Económica / Journal of Iberian and Latin American Economic History, Año XXX, december 2012, n. 3]
    (Universidad Carlos III de Madrid. Instituto Figuerola de Historia y Ciencias Sociales, 2012-12)
  • Publication
    Financial crises in Spain: lessons from the last 150 years
    (Universidad Carlos III de Madrid. Instituto Figuerola de Historia y Ciencias Sociales, 2012-12) Betrán Pérez, Concha; Martín-Aceña, Pablo; Pons, María A.
    Financial crises are not unique to current financial systems. Are crises alike? Have they become more frequent, longer lasting and more severe since the 20th century? What does history tell us? The objective of this paper is to study the financial crises that have occurred in Spain over the last 150 years. We consider different types of crises (banking, currency and stock market crises), together with all their possible combinations, estimate their frequency by period and measure their length and depth. The main conclusion we obtain is that Spanish crises have been more frequent than in the rest of the world and have been more severe and more complex since 1973, as the 2007 crisis is confirming.
  • Publication
    La influencia del ferrocarril en el desarrollo urbano español (1860-1910)
    (Universidad Carlos III de Madrid. Instituto Figuerola de Historia y Ciencias Sociales, 2012-12) Barquín, Rafael; Pérez, Pedro; Sanz, Basilio
    The aim of this paper is to measure the influence of the railroad in the urbanization of Spain between 1860 and 1910. Our sources are from quantitative information –censuses of population– and qualitative one –coastal condition, existence of mining industry or industry, administrative capital and date of the railway connection–. We have estimated a first model of data panel in differences. Based on this model we have employed different estimation techniques in order to address omitted variables and/or endogeneity of the train variable. Results from all estimations give us clear evidence of the positive influence of the railroad on the urban growth. In addition a quasi-experiment design reinforces this conclusion. In short, although moderate, our paper shows strong evidence of the influence of the railroad on Spanish urbanization. This conclusion is coherent with other research.
  • Publication
    Default, rescheduling and inflation: public debt crises in Spain during the 19th and 20th centuries
    (Universidad Carlos III de Madrid. Instituto Figuerola de Historia y Ciencias Sociales, 2012-12) Comín, Francisco
    This article provides a historical overview of the factors leading up to debt crises and the default mechanisms used by governments to solve them, ranging from repudiation and restructuring to inflation tax and financial repression. The paper also analyses the Spanish governments’ graduation to responsible public debt management under democracy and the last debt crisis starting in 2010. After analysing the evolution of the outstanding public debt, budget deficits, the Spanish economy’s ability to borrow, the central government’s debt affordability and the profile of public debt, the article concludes that the Spanish case confirms the main hypotheses of concerning international debt crises: short-term borrowing enhanced the risk of a debt crisis; insolvency problems arose when governments were unwilling or unable to repay debt; debt crises took place after large capital inflows; most outright defaults ended up being partial defaults; public debt level became unsustainable when it rose above 60-90 per cent of GDP; default trough inflation became commonplace when fiat money displaced coinage; financial repression was used as a subtle type of debt restructuring; and defaults endangered the creditworthiness of the Spanish Finance Ministry and forced disciplined fiscal policies.
  • Publication
    Los impactos fiscales de una guerra distante: crisis y restauración de la real hacienda en la provincia de Yucatán (1801–1821)
    (Universidad Carlos III de Madrid. Instituto Figuerola de Historia y Ciencias Sociales, 2012-12) Sánchez Santiró, Ernest
    Starting from the quantitative reconstruction of revenues and expenses of the Royal Treasury in the Yucatan province during the period 1801-1821, the paper shows the transition from an unbalanced regional fiscal structure that depended on colonial transfers (situados) to offset the deficit, to one self-sufficient structure in the context of the Independence War and the liberalism of the Cortes de Cadiz. An autonomy based on the indigenous capitation tax and the fiscal control of foreign trade that was made in the ports of the Yucatan Peninsula.
  • Publication
    Preliminares [Revista de Historia Económica / Journal of Iberian and Latin American Economic History, Año XXX, invierno2012, n. 3]
    (Universidad Carlos III de Madrid. Instituto Figuerola de Historia y Ciencias Sociales, 2012-12)