HOW WELL DID THE SPANISH ECONOMY PERFORM IN THE YEARS AFTER THE CW - economic problems + impact of civil war Flashcards
Econ situation 1939 onwards?
major debts from cw + from wider ww2 disruption
In what area was there high spending?
high military expenditure - further weakened econ
1939-45: 50% gov spending on military
bc F saw military as vital role in new state
Who benefited from high military spending (apart from obvs military)?
spanish industrialists w business interests in military sector e.g. armaments
Change in military spending in 1940’s?
No, fell slightly but remained relatively high
What did high military spending mean for the econ?
= low econ spending in other key areas e.g. industrial reconstruction, public works, agri investment, social policies (education)
- failed to address key issues
1938-56 econ situation?
wages low + not keeping up with rising prices
worst inflation in S history
Avg. income stat?
avg. income in 1951 = avg. income in mid 1930’s
Standard of living stat?
s of l in 1952 = s of l as 1936
Unemployment stats in new state econ?
unemployment steadily fell
just before cw = 750,000
1940 - 500,000
1944 - 150,000
What was aritificial abt unemployment stats?
no. casualties = artificially lowers unemployment no.
What was disguised by artificial unemployment no.?
rural underemployment
1939 industrial output?
31% lower than pre-cw
1939 agri production?
fallen 21% since pre cw
Balance of trade?
remained negative for most of the 1940’s + pre-cw exports not achieved until 1950
Peseta?
Spain’s official currency
= struggling to compete w other currencies + had negative effect on currency exchange + export costs
