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Article

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Accepted version

Publication date

2018-05

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Please use this identifier to cite or link to this item: https://hdl.handle.net/2445/122138

Emptying the Coffers: Old Money to Build New Railways, Spain 1850-1874

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https://doi.org/10.1093/ereh/hex016

Abstract

This paper analyzes the evolution of the Spanish economy during the third quarter of the 19th century, the critical initial phase of its modern development. The specific aim of the paper is to discuss the role to be awarded to foreign and domestic capital in financing the investment boom in those years. The main hypothesis stresses that the mobilization of savings previously accumulated and hoarded in gold was a distinctive and important origin of resources. This result challenges older assumptions about the economic changes of the period, and provides a vision somewhat different of the first steps of Spain's economic modernization.

Subject

Infraestructures (Transport), Ferrocarrils, Història econòmica, Macroeconomia

Subject (English)

Transportation buildings, Railroads, Economic history, Macroeconomics

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Articles publicats en revistes (Història Econòmica, Institucions, Política i Economia Mundial)

Citation

SUDRIÀ, Carles. Emptying the Coffers: Old Money to Build New Railways, Spain 1850-1874. European Review of Economic History. 2018. Vol. 22, num. 2, pags. 210-232. ISSN 1361-4916. [consulted: 16 of August of 2026]. Available at: https://hdl.handle.net/2445/122138

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