American Military Interests and Economic Confidence in Spain under the Franco Dictatorship
The security of property rights is fragile under dictatorships. This is particularly so if economic agents are uncertain as to whether the regime will last. As a result, private investment is withheld and economic performance is poor. Spain was in such a situation after World War II. However, as the...
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| Veröffentlicht in: | The Journal of economic history 2007-09, Vol.67 (3), p.740-767 |
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| container_end_page | 767 |
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| container_title | The Journal of economic history |
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| creator | Calvo-Gonzalez, Oscar |
| description | The security of property rights is fragile under dictatorships. This is particularly so if economic agents are uncertain as to whether the regime will last. As a result, private investment is withheld and economic performance is poor. Spain was in such a situation after World War II. However, as the Cold War intensified the United States became interested in Spain as a military ally, thereby helping to consolidate Franco's regime. This led to an increase in economic confidence and helps to explain why economic growth resumed in Spain ahead of significant changes in its autarkic economic policies. |
| doi_str_mv | 10.1017/S0022050707000290 |
| format | Article |
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| source | Jstor Complete Legacy; Cambridge University Press Journals Complete |
| subjects | Armed forces Bilateral relations Central banks Cold War Consolidation Dictators Dictatorship Economic growth Economic history Economic policy Endorsements Exchange rates Financial investments Foreign exchange rates Geopolitics Gross domestic product International political economy Liquid assets Loans Market prices Military bases Political systems Politics Property rights Rapprochement Spain Statistical variance Stock market indices Studies Uncertainty World War II |
| title | American Military Interests and Economic Confidence in Spain under the Franco Dictatorship |
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