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Un nuevo indicador para la historia financiera española: La cotizacion de las letras de cambio a corto plazo


  • Castañeda, Lluis
  • Tafunell, Xavier


In this note, we present a new point of view of how financial markets worked in nineteenth century in Spain, focussing on die price of money mobility, which is founded on the price of domestic bills of exchange on eight days' sight We reveal the source, then the conceptual framework in the use of the course of the exchange as the price of money mobility. Finally, we present a brief analysis of the course of the exchanges in Barcelona. Some conclusions are pointed out: the price of money mobility is a pivotal concept, since there is no doubt it had to have significant effects over both financial and real economy. High volatility of exchanges affects the financial economy while high values of them affects the real economy.

Suggested Citation

  • Castañeda, Lluis & Tafunell, Xavier, 1993. "Un nuevo indicador para la historia financiera española: La cotizacion de las letras de cambio a corto plazo," Revista de Historia Económica / Journal of Iberian and Latin American Economic History, Cambridge University Press, vol. 11(2), pages 367-383, September.
  • Handle: RePEc:cup:reveco:v:11:y:1993:i:02:p:367-383_00

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    Cited by:

    1. Pablo Martín-Aceña, 2018. "Money in Spain. New historical statistics. 1830-1998," Working Papers 1806, Banco de España;Working Papers Homepage.
    2. Julio Martinez-Galarraga & Daniel A. Tirado & Rafael González-Val, 2015. "Market potential and regional economic growth in Spain (1860–1930)," European Review of Economic History, Oxford University Press, vol. 19(4), pages 335-358.
    3. Xavier Cuadras & Ángel S. Fernández Castro & Joan R. Rosés, 2001. "Productividad, competencia e innovación en la banca privada española (1900-1914)," Economics Working Papers 530, Department of Economics and Business, Universitat Pompeu Fabra.
    4. Jordi Pons Novell & Javier Silvestre & Daniel Aurelio Tirado Fabregat & Elisenda Paluzie Hernandez, 2004. "Were Spanish migrants attracted by industrial agglomerations? An analysis for the interwar years in the light of the new economic geography," Working Papers in Economics 121, Universitat de Barcelona. Espai de Recerca en Economia.
    5. Martinez-Galarraga, Julio, 2012. "The determinants of industrial location in Spain, 1856–1929," Explorations in Economic History, Elsevier, vol. 49(2), pages 255-275.
    6. Alicia Gómez-Tello & Alfonso Díez-Minguela & Julio Martinez-Galarraga & Daniel A. Tirado, 2019. "Regional prices in early twentieth-century Spain: a country-product-dummy approach," Cliometrica, Springer;Cliometric Society (Association Francaise de Cliométrie), vol. 13(2), pages 245-276, May.

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