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- Title
Emptying the Coffers: Old Money to Build New Railways, Spain 1850-1874.
- Authors
SUDRIÀ, CARLES
- Abstract
This paper analyzes the evolution of the Spanish economy during the third quarter of the 19th century, the critical initial phase of its modern development. The specific aim of the paper is to discuss the role to be awarded to foreign and domestic capital in financing the investment boom in those years. The main hypothesis stresses that the mobilization of savings previously accumulated and hoarded in gold was a distinctive and important origin of resources. This result challenges older assumptions about the economic changes of the period, and provides a vision somewhat different of the first steps of Spain's economic modernization.
- Subjects
SPAIN; RAILROADS; RAILROAD finance; SPANISH economy; 19TH century Spanish history; HISTORY of railroads; NINETEENTH century; ECONOMIC policy
- Publication
European Review of Economic History, 2018, Vol 22, Issue 2, p210
- ISSN
1361-4916
- Publication type
Article
- DOI
10.1093/ereh/hex016