Skip to main content
×
Home
    • Aa
    • Aa

American Military Interests and Economic Confidence in Spain under the Franco Dictatorship

  • Oscar Calvo-Gonzalez (a1)
Abstract

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.

Copyright
Linked references
Hide All

This list contains references from the content that can be linked to their source. For a full set of references and notes please see the PDF or HTML where available.

BollerslevTim, Ray Y. Chou, and Kenneth F. Kroner, “ARCH Modeling in Finance: A Review of the Theory and Empirical Evidence.Journal of Econometrics 52, no. 1 (1992): 5–59.

Calvo GonzálezOscar. “¡Bienvenido, Míster Marshall! La ayuda económica americana y la economía española en la década de 1950.Revista de Historia Económica 19 (2001): 253–75.

CampbellCynthia J., and Charles E. Wasley. “Measuring Security Price Performance Using Daily NASDAQ Returns.Journal of Financial Economics 33, no. 1 (1993): 73–92.

CorradoCharles J.A Nonparametric Test for Abnormal Security Price Performance in Event Studies.Journal of Financial Economics 23 (1989): 385–95.

CowanArnold R.Nonparametric Event Study Tests,Review of Quantitative Finance and Accounting 2 (1992): 353–71.

EngleRobert. “GARCH 101: The Use of ARCH/GARCH Models in Applied Econometrics.Journal of Economic Perspectives 15, no. 4 (2001): 157–68.

GuiraoFernando. Spain and the Reconstruction of Western Europe, 1945–57. New York: St. Martin's Press, 1998.

LiedtkeBoris N. Embracing A Dictatorship. New York: St. Martin's Press, 1998.

MaddisonAngus. The World Economy: A Millennial Perspective. Paris: OECD, 2001.

MitchellBrian R. International Historical Statistics: Europe, 1750–1988. New York: Stockton Press, 1992.

TafunellXavier. “Los beneficios empresariales en España, 1880–1981. Estimación de un índice anual del excedente de la gran empresa.Revista de Historia Económica 16 (1998): 707–46.

Recommend this journal

Email your librarian or administrator to recommend adding this journal to your organisation's collection.

The Journal of Economic History
  • ISSN: 0022-0507
  • EISSN: 1471-6372
  • URL: /core/journals/journal-of-economic-history
Please enter your name
Please enter a valid email address
Who would you like to send this to? *
×