American military interests and economic confidence in Spain under the Franco dictatorship

• 成果类型: Article
• 署名作者: Calvo-Gonzalez, Oscar
• 刊物名称: JOURNAL OF ECONOMIC HISTORY
• ISSN/ISSBN: 0022-0507
• DOI: 10.1017/S0022050707000290
• 发表日期: 2007
• 页码: 740-767
• 关键词: security-price performance; institutions; reforms; debt

摘要

The security of property rights is fragile under dictatorships. This is particularly so if economic agents are uncertain as to whether the regime will last. As a result, private investment is withheld and economic performance is poor. Spain was in such a situation after World War II. However, as the Cold War intensified the United States became interested in Spain as a military ally, thereby helping to consolidate Franco's regime. This led to an increase in economic confidence and helps to explain why economic growth resumed in Spain ahead of significant changes in its autarkic economic policies.