String of defaults: Spanish financial crises through the years

Abstract

Like many countries, Spain has gone through a series of financial crises, both before and after its industrialization. There are many underlying causes for these crises, as well as for the current Spanish downturn. It is worth noting that there are similarities between recessions throughout the history of Spain. The role of government spending, government regulation, credit institutions, budget deficits, the political climate, and international trade have been important determinants of the state of the Spanish economy, as they have been in other economies across the globe.Spain, Spanish Economy, Financial Crises, Federal Budget Deficit, Banking Crises, Subprime Mortgage, Spanish Industrial Revolution, Economic History, Political Economy, International Trade, Government Regulation