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Crisis bancarias en la historia de España. Del Antiguo Régimen a los orígenes del capitalismo moderno

  • Pablo Martín-Aceña


    (Dpto. Fundamentos de Economía e Historia Económica Facultad de Ciencias Económicas y Empresariales Universidad de Alcalá)

  • Pilar Nogues-Marco

    (Universidad Carlos III de Madrid)

In the last eight centuries there have been hundreds of banking crises throughout the entire planet. Spain has not been an exception and our history is plagued with numerous financial disasters in which the collapse of one institution has jeopardized the stability of the whole financial structure. This paper examines two of the most severe banking crises of Spain´s history. The failures of the so-called public banks in the commercial city of Seville at the end of the XVI century and theirs effects over the stability of the payment system. The Andalusian deposit banks played an essential role in the Atlantic trade and their debacle affected the entire economic and financial fabric of the region, and it had long lasting consequences. The 1866 crisis, one of the most severe of contemporary Spain, wiped out half of the banks and credit companies. The bankruptcies weakened the nascent financial system and its consequences were felt until the end of the century.

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Paper provided by Asociacion Espa–ola de Historia Economica in its series Documentos de Trabajo (DT-AEHE) with number 1201.

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Length: 28
Date of creation: Jan 2012
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Handle: RePEc:ahe:dtaehe:1201
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  1. Pilar Nogues-Marco, 2011. "Tipos de cambio y tipos de interés en Cádiz en el siglo XVIII (1729-1788)," Estudios de Historia Económica, Banco de España;Estudios de Historia Económica Homepage, number 58, December.
  2. Raymond de Roover, 1944. "What is Dry Exchange? A Contribution to the Study of English Mercantilism," Journal of Political Economy, University of Chicago Press, vol. 52, pages 250.
  3. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "This Time Is Different: Eight Centuries of Financial Folly," Economics Books, Princeton University Press, edition 1, number 8973, 01-2013.
  4. de la Escosura, Leandro Prados, 2010. "Spain’s international position, 1850-1913," Revista de Historia Económica, Cambridge University Press, vol. 28(01), pages 173-215, March.
  5. Galo Nuño & Pedro Tedde & Alessio Moro, 2011. "Money dynamics with multiple banks of issue: evidence from Spain 1856-1874," Working Papers 1119, Banco de España;Working Papers Homepage.
  6. Reinhart, Karmen & Rogoff, Kenneth, 2009. ""This time is different": panorama of eight centuries of financial crises," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 1, pages 77-114, March.
  7. William Roberds & Stephen Quinn, 2007. "The Bank of Amsterdam and the Leap to Central Bank Money," American Economic Review, American Economic Association, vol. 97(2), pages 262-265, May.
  8. Carmen M. Reinhart & Graciela L. Kaminsky, 1999. "The Twin Crises: The Causes of Banking and Balance-of-Payments Problems," American Economic Review, American Economic Association, vol. 89(3), pages 473-500, June.
  9. Drelichman, Mauricio & Voth, Hans-Joachim, 2007. "The Sustainable Debts of Philip II: A Reconstruction of Spain's Fiscal Position, 1560-1598," CEPR Discussion Papers 6611, C.E.P.R. Discussion Papers.
  10. Flandreau, Marc & Galimard, Christophe & Jobst, Clemens & Nogues-Marco, Pilar, 2006. "The Bell Jar: Commercial Interest Rates between Two Revolutions, 1688-1789," CEPR Discussion Papers 5940, C.E.P.R. Discussion Papers.
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