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The Spanish 1898 Disaster: The Drift towards Natonal-Protectionism


  • Fraile, Pedro
  • Escribano, Alvaro


An econometric analysis of Spanish aggregate and sectoral data reveals that the loss of the last colonial possessions in 1898 was not, in fact an economic disaster of the catastrophic proportions sorne traditional historians had held. Both at the aggregate level and in the sectors most directly involved in the colonial trade, the events of 1898 were not a specially relevant watershed. However, the nationalistic sentiment, and the climate of public opinion created by the defeat in the 1898 Spanish-American War induced a favorable institutional framework for the adoption of autarkic measures, especially high tariffs. This produced in subsequent years a progressive separation of the Spanish economy from international markets. This indirect and institutional effect, rather than the direct loss from the war itself, was the real economic disaster of 1898.
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  • Fraile, Pedro & Escribano, Alvaro, 1998. "The Spanish 1898 Disaster: The Drift towards Natonal-Protectionism," Revista de Historia Económica, Cambridge University Press, vol. 16(01), pages 265-290, March.
  • Handle: RePEc:cup:reveco:v:16:y:1998:i:01:p:265-290_00

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    References listed on IDEAS

    1. Domingo Gallego Martínez, 2005. "La formación de los precios del trigo en España (1820-1869): el mercado interior," Historia Agraria. Revista de Agricultura e Historia Rural, Sociedad Española de Historia Agraria, issue 36, pages 263-285, august.
    2. Martinez, Domingo Gallego, 2003. "Los aranceles, la política de comercio exterior y la estabilidad de la agricultura española (1870-1914)," Revista Española de Estudios Agrosociales y Pesqueros, Ministerio de Medio Ambiente, Rural y Marino (formerly Ministry of Agriculture), issue 198.
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    1. Antonio Tena Junguito, 2010. "Tariff History Lessons from the European Periphery. Protection Intensity and the Infant Industry Argument in Spain and Italy 1870-1930," Historical Social Research (Section 'Cliometrics'), Association Française de Cliométrie (AFC), vol. 35(1), pages 340-363.

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