Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/247094 
Year of Publication: 
2019
Series/Report no.: 
EHES Working Paper No. 164
Publisher: 
European Historical Economics Society (EHES), s.l.
Abstract: 
Among the characteristics of Spanish financial crises over the last 165 years, we highlight their relatively high frequency and, since 1973, their severity (including 2008, the most severe crisis yet). By analysing monetary policy regimes, financial structure, and the main crisis determinants (factors associated with crises), as well as the resolution to the crises, we can conclude that capital flow bonanzas are a key factor in most financial crises; when a capital flow bonanza occurred, it increased both the probability of a subsequent crisis and its severity.
Subjects: 
Spain
income per person
productivity
inequality
living standards
JEL: 
N13
N14
O52
I30
Document Type: 
Working Paper

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