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

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  • Calvo-Gonzalez, Oscar
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    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.

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    Bibliographic Info

    Article provided by Cambridge University Press in its journal The Journal of Economic History.

    Volume (Year): 67 (2007)
    Issue (Month): 03 (September)
    Pages: 740-767

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    Handle: RePEc:cup:jechis:v:67:y:2007:i:03:p:740-767_00

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    Cited by:
    1. Leandro Prados de la Escosura & Joan R. Rosés & Isabel Sanz Villarroya, 2011. "Economic Reforms and Growth in Franco’s Spain," Working Papers in Economic History wp11-07, Universidad Carlos III, Departamento de Historia Económica e Instituciones.
    2. Leandro Prados de la Escosura & Joan R. Roses, 2008. "Long-run Estimates of Physical Capital in Spain, 1850-2000," Working Papers in Economic History wp08-07, Universidad Carlos III, Departamento de Historia Económica e Instituciones.

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