New estimates of Spain's current-account balance with the «Indies» add new perspectives to the recent debate on the aims and results of Spanish commercial policy. At the height of «comercio libre» in 1784–92, Spain's private commercial interests appear to have drawn larger financial returns from the Indies than did their British counterparts from wider colonial engagement. On this as on other scores, by the eve of the French wars the Spanish empire appears to have become a sounder economic proposition than might be inferred from recent pessimistic views. The empire's subsequent demise may have involved a greater degree of geographical and dynastic accident than is seemingly apparent.

The statistical accuracy of Historical Foreign Trade Sources has been stated by Federico and Tena (1991) and Tena (1985, 19991 y 1992). This article follows his works in the most suspect field: geographical distribution. We have use Latin American Coal Trade Data among 1908–1930. Most international trade, considering weight, was coal trade; meanwhile it is an ideal product to isolate geographical effects. Statistical disagreements persistence makes us to think this is not a random phenomenon. We have specified an econometric model based on distance. Results show that including geography we can understand statistical disagreements. As a consequence Latin American Sources appear reasonably accurate, considering its geographical pattern.

In this paper we explore the determinants of women's work using data from Barcelona in 1930. Although participation rates were much lower in Barcelona than in cities in the UK or the US at roughly the same time, our estimates of the labour supply suggest women in Barcelona did respond to wage incentives. The most distinguishable feature of the household division of labour in Barcelona is the lack of substitution effects among family members, especially among women. The sensitivity of the participation of each individual woman to the participation of other members of the household might indicate that labour markets were highly segmented and anticipates the existence of large differences in household earnings and welfare. We argue that the persistence of labour-intensive methods of production requiring on-the-job training might explain the type of household division of labour that we find in Barcelona.

During the first half of the 20th century, most electric utilities were owned by foreign companies in Latin America as well as in Argentina, where the electric system was managed by firms of different nationalities and types. After comparing the trajectories of the firms, the article explores the causes of the unsuccessful performance of the electric utilities managed by British and American companies in Argentina. The results show that the life-cycles of electric utility companies greatly diverged according to their style of management and financing, the entry into the market, and the level of capitalization and technology applied to electrical networks.

The impact of Francoist autarkic economic policy on Spain's economy is assessed using Domestic Resource Cost (DRC) as an indicator. This indicator compares the real opportunity cost of the primary factors used in the production of a certain good with its added value at international prices. Our results indicate that the inefficient allocation of productive factors induced by the interventionist economic policy resulted in a significant loss of efficiency for the economy. Only 50 out of 125 industries or, in other words, 39 per cent of Spanish industrial production, could be considered efficient. However, the paper also shows that the Spanish economy was in a good position to take advantage of the opportunities created by the 1959 reform, as most industrial production was on the verge of relative efficiency.