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1977: Hopes Fulfilled—Building Democracy in Turbulent Economic Times

In: Historical Turning Points in Spanish Economic Growth and Development, 1808–2008

Author

Listed:
  • Joaquim Cuevas

    (University of Valencia)

  • María A. Pons

    (University of Valencia)

Abstract

This chapter offers an analysis of the main economic and institutional transformations in Spain from 1977 onwards. The severe economic and financial crisis that hit Spain in the mid-1970s coincided with the arrival of democracy after Franco’s death and shaped the nature and scope of the implemented reforms (Pactos de la Moncloa). While the crisis and political instability limited the possibility of making a more radical adjustment, the consensus among different social actors, unions and political parties was fundamental to the reforms. This time hopes were fulfilled and although some reforms were left pending, those that were adopted played a seminal role in putting the Spanish economy and society on the path to international standardization and integration into Europe.

Suggested Citation

  • Joaquim Cuevas & María A. Pons, 2020. "1977: Hopes Fulfilled—Building Democracy in Turbulent Economic Times," Palgrave Studies in Economic History, in: Concha Betrán & Maria A. Pons (ed.), Historical Turning Points in Spanish Economic Growth and Development, 1808–2008, chapter 6, pages 159-194, Palgrave Macmillan.
    • Handle: RePEc:pal:palscp:978-3-030-40910-4_6
    DOI: 10.1007/978-3-030-40910-4_6
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