Titlebook: A Millennial View of Spain’s Development; Essays in Economic H Leandro Prados de la Escosura Book‘‘‘‘‘‘‘‘ 2024 The Editor(s) (if applicable

interrupt

Productivity Growththe mid-1950s to the late 1980s, but decelerated thereafter as capital deepening slowed down and TFP stagnated due to the fact that expanding sectors attracted less investment-specific technological progress, largely a result of institutional constraints.

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送秋波

Paradox

Capital AccumulationDP ratio rose over time and doubled in the last half a century. Capital services grew fast over the long run, accelerating in the 1920s and from the mid-1950s to 2007. Until 1975, their acceleration was assisted by an increase in the ‘quality’ of capital. Capital deepening proceeded steadily, accele

邊緣

ostensible

Inequality and Povertyerted U with a peak in 1916, and a Kuznets curve results when the Gini coefficient is plotted against real per capita income. The functional distribution of income led personal income distribution until the early 1950s, while the dispersion of labour incomes took over from then onwards. Although gro

深淵

The Loss of the American Empirees its economic effects. The emancipation of the mainland American colonies impacted negatively on Spain’s economy, especially in the short run, with a contraction of international trade, domestic investment and the Monarchy’s revenues. However, the aggregate effects on the economy were narrower and

不透明

The Terms of Trade Between Spain and Britain and the Industrial Revolutions on the former’s welfare is tested for Spain and Britain in the age of the Industrial Revolution. At odds with the Prebisch doctrine, the evolution of the terms of trade between Spain and Britain had a positive effect on Spain’s welfare, as productive factors embodied in exportables improved in abs