Publication: Spain´s International Position, 1850-1913
Loading...
Identifiers
Publication date
2009-10
Defense date
Authors
Advisors
Tutors
Journal Title
Journal ISSN
Volume Title
Publisher
Impact
Export
Abstract
Spain’s financial position during the late 19th and early 20th century has
usually been presented as one of persistent deficit on current account, which
resulted from her integration into international commodity and factor markets
and this, in turn, slowed down growth. In this essay a preliminary
reconstruction of the balance of payments on current account allows us to
reject this view. In fact, a net capital inflow made possible to meet the demand
for investment boosting economic performance. Current account reversals in a
context of macroeconomic domestic imperfections help to explain the economic
slowdown at the turn of the century.
Description
Keywords
Balance of payments, Current acount reversals, Saving, Investment, Growth, Spain, Sudden Stops