Spanish miracle
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Spanish Miracle
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The Spanish miracle (
GDP averaged a 6.5 percent growth rate per year,[2] and was itself part of a much longer period of an above average GDP growth rate from 1951 to 2007.[3] The economic boom came to an end with the 1970s international oil and stagflation crises that disrupted the industrialised world although several scholars have argued that "liabilities accumulated during years of frenzied pursuit of economic development" were in fact to blame for the slow economic growth of the late 1970s.[4]
Initiation of boom
After a very slow recovery from the devastation of the
Japan,[6]
and grew to become the ninth largest economy in the world.
Industrialization
The rapid economic expansion reinvigorated old industrial areas: the
Ensidesa in Avilés and the shipbuilder Empresa Nacional Bazán. With heavy protection from foreign competition in the domestic Spanish market, those companies led the industrialisation of the country, restoring the prosperity of industrial areas like Barcelona and Bilbao and creating new industrial areas, most notably around Madrid
. Although there was economic liberalisation in the period, key enterprises remained under state control.
Automotive industry
The
working-class
families. However, at the end of the period, it was the second car for many more.
See also
- Economic history of Spain
- Economic miracle
- Instituto Nacional de Industria
- Italian economic miracle
- Japanese economic miracle
- Pegaso
- SEAT
- Spain under Franco
References
- ^ Leandro Prados de la Escosura: Spanish economic growth in the long run: What historical national accounts show, 2016
- ^ Leandro Prados de la Escosura: Spanish economic growth in the long run: What historical national accounts show, 2016
- ^ Leandro Prados de la Escosura: Spanish economic growth in the long run: What historical national accounts show, 2016
- ISBN 978-1-137-32990-5.
- ^ Jensen, Geoffrey. "Franco: Soldier, Commander, Dictator". Washington D.C.: Potomac Books, Inc., 2005. p. 110-111.
- Forbes. Retrieved December 30, 2017.
- ^ Fernández, Fernando (14 November 2008) El coche como símbolo del declive ABC opinión.
- ^ J.L. García Ruiz, "Barreiros Diesel y el desarrolo de la automoción en España" (PDF).