This is a comprehensive long-run history of economic and political change in the Iberian Peninsula. Beginning with the development of the old medieval kingdoms, it goes on to explore two countries, Portugal and Spain, which during the early modern period possessed vast empires and played an essential role in the global economic and political developments. It traces how and why both countries began to fall behind during the first stages of industrialization and modern economic growth only to achieve remarkable economic development during the second half of the twentieth century. Written by a team of leading historians, the book sheds new light on all aspects of economic history from population, agriculture, manufacturing and international trade to government, finance and welfare. The book include extensive new data and will be an essential work of reference for scholars of Portugal and Spain and also of comparative European economic development.

This book examines the history of what became one of Portugal's largest banks, the Caixa Geral de Depositos. The bank was founded in 1876 by the state to run public deposits, and evolved into a savings bank, catering for both public and private deposits. Its history goes beyond the history of banking, as it ties in with the role of the state in the banking sector and financial markets. The book weaves in and out of different political and international contexts, following the many changes of the Portuguese political regime and of its interactions with the national and international economy. The most important lesson from the study is that publicly owned institutions can compete successfully with the private sector when they simultaneously cater for the interests of policy makers as well as those of the public, in this case, the depositors. The history of the Caixa Geral de Depositos therefore shows how the state of a peripheral economy is capable of successfully managing a large financial institution when the right set of incentives is in place. This work will be a valuable resource for researchers and students of financial and economic history at both the advanced undergraduate and postgraduate levels. It will also provide interesting insights for practitioners in the financial sector.

This book examines the history of what became one of Portugal's largest banks, the Caixa Geral de Depositos. The bank was founded in 1876 by the state to run public deposits, and evolved into a savings bank, catering for both public and private deposits. Its history goes beyond the history of banking, as it ties in with the role of the state in the banking sector and financial markets. The book weaves in and out of different political and international contexts, following the many changes of the Portuguese political regime and of its interactions with the national and international economy. The most important lesson from the study is that publicly owned institutions can compete successfully with the private sector when they simultaneously cater for the interests of policy makers as well as those of the public, in this case, the depositors. The history of the Caixa Geral de Depositos therefore shows how the state of a peripheral economy is capable of successfully managing a large financial institution when the right set of incentives is in place. This work will be a valuable resource for researchers and students of financial and economic history at both the advanced undergraduate and postgraduate levels. It will also provide interesting insights for practitioners in the financial sector.

Informed and containing incisive analysis, this book firmly places European agricultural history back at the centre stage.

Bringing together a wealth of international scholars, who are experts in the area, to provide an authoritative and comprehensive analysis it answers a range of fundamental and important questions. These include:

• What were the main cycles of agricultural output growth since 1870?
• What was the impact in output of the grain invasion and the growth of export markets?
• How did agriculture react to protection in the interwar period?
• What was the role of agriculture during the European golden age?
• What happened to the growth of labour force and labour participation rates?
• How did investment evolve and how did its composition change?
• How did labour, capital and total factor productivity perform?
• How does this compare to what happened in the USA?

With analyses of more than ten European countries and introductory and concluding chapters that compare and contrast the European experience with that of North America, this volume is key reading for students of agriculture, development economics and economics history.

Including contributions from such figures as Douglas Irwin, James Foreman-Peck, Kevin O'Rourke and Max-Stefan-Schulze, this key book summarizes the recent empirical research carried out on the issue of the classical period of trade protectionism. It provides a basis for revising widely held views on the standard effects of tariffs on economic structures and progress, as well as a historical perspective on recent developments. Long-held views on modern trade policies have been challenged by the introduction of recent theoretical developments in international economics and in measurement techniques brought about in the 1960s and 70s. One question in particular has attracted attention and has contributed to the bringing to light of a number of previously ignored measurement and interpretation problems: the assessment of French and British nineteenth century trade policies. This noteworthy volume examines the theoretical and practical problems associated with the assessment and measurement of the direct impact of tariffs, prohibitions and quotas on domestic prices, output structure and competitiveness. The contributors also examine the direct and long-run consequences of protectionist measures on particular economies, utilizing evidence from in-depth investigations of trade statistics as well as 'best practice' statistical techniques such as effective protection, elasticity of demand and revealed comparative advantage.

Public finance is a major feature of the development of modern European societies, and it is at the heart of the definition of the nature of political regimes. Public finance is also a most relevant issue in the understanding of the constraints and possibilities of economic development. This book is about the rise and development of taxation systems, expenditure programs, and debt regimes in Europe from the early nineteenth century to the beginning of World War I. Its main purpose is to describe and explain the process by which financial resources were raised and managed. The volume presents studies of nine countries or empires that are considered highly representative of the widest European experience on the matter and discusses whether there are any common patterns in the way the different European states responded to the need for raising additional resources to pay for the new tasks they were performing.

Public finance is a major feature of the development of modern European societies, and it is at the heart of the definition of the nature of political regimes. Public finance is also a most relevant issue in the understanding of the constraints and possibilities of economic development. This book is about the rise and development of taxation systems, expenditure programs, and debt regimes in Europe from the early nineteenth century to the beginning of World War I. Its main purpose is to describe and explain the process by which financial resources were raised and managed. The volume presents studies of nine countries or empires that are considered highly representative of the widest European experience on the matter and discusses whether there are any common patterns in the way the different European states responded to the need for raising additional resources to pay for the new tasks they were performing.

Whilst many books on the European economy have focused on the analysis of its industrial sectors, this book draws attention to the often ignored contribution made by the development of European agriculture over the past two centuries. In doing so, the authors adopt a revisionist perspective on the subject, addressing the lack of coherent study of the agricultural sector and reassessing old theories about the links between agricultural and economic development. In focusing on those countries which by 1870 still had a large agricultural sector, namely, France, Germany, Italy, Denmark, The Netherlands, Sweden, Spain, Portugal, Poland, Hungary, Greece and Turkey, this book determines the role of the agricultural sector in the economic development of Europe. These chapters demonstrate how the rate of development in the agricultural sector depended on specific industrial, political and market conditions; the diversity of ways and timings through which transformation was achieved is also considered.

This book offers a fascinating exploration of the evolution of the Portuguese economy over the course of eight centuries, from the foundation of the kingdom in 1143, when political boundaries began to take shape in the midst of the Christian Reconquista of the Iberian Peninsula, and the formation of an empire, to the integration of the nation into the European Communities and the Economic and Monetary Union. Through six chapters, the authors provide a vibrant history of Portugal's past with a focus ranging from the medieval economy and the age of globalization, to war and recovery, the Atlantic economy, the rise of liberalism and patterns of convergence. The book provides a unique long-term perspective of change in a southern European country and its empire, which responds to the fundamental broader questions about when, how and why economies expand, stagnate or contract.

This book offers a fascinating exploration of the evolution of the Portuguese economy over the course of eight centuries, from the foundation of the kingdom in 1143, when political boundaries began to take shape in the midst of the Christian Reconquista of the Iberian Peninsula, and the formation of an empire, to the integration of the nation into the European Communities and the Economic and Monetary Union. Through six chapters, the authors provide a vibrant history of Portugal's past with a focus ranging from the medieval economy and the age of globalization, to war and recovery, the Atlantic economy, the rise of liberalism and patterns of convergence. The book provides a unique long-term perspective of change in a southern European country and its empire, which responds to the fundamental broader questions about when, how and why economies expand, stagnate or contract.

Including contributions from such figures as Douglas Irwin, James Foreman-Peck, Kevin O'Rourke and Max-Stefan-Schulze, this key book summarizes the recent empirical research carried out on the issue of the classical period of trade protectionism. It provides a basis for revising widely held views on the standard effects of tariffs on economic structures and progress, as well as a historical perspective on recent developments. Long-held views on modern trade policies have been challenged by the introduction of recent theoretical developments in international economics and in measurement techniques brought about in the 1960s and 70s. One question in particular has attracted attention and has contributed to the bringing to light of a number of previously ignored measurement and interpretation problems: the assessment of French and British nineteenth century trade policies. This noteworthy volume examines the theoretical and practical problems associated with the assessment and measurement of the direct impact of tariffs, prohibitions and quotas on domestic prices, output structure and competitiveness. The contributors also examine the direct and long-run consequences of protectionist measures on particular economies, utilizing evidence from in-depth investigations of trade statistics as well as 'best practice' statistical techniques such as effective protection, elasticity of demand and revealed comparative advantage.