The Spanish Industry Performance in International Markets (1890-1913)

Pablo Delgado
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Pablo Delgado: Department of Applied Economics and Economic History and Instituto Agroalimentario de Aragón, IA2 (UNIZAR-CITA), University of Zaragoza, Spain
Authors registered in the RePEc Author Service: Pablo Delgado Perea

No 2105, Documentos de Trabajo (DT-AEHE) from Asociación Española de Historia Económica

Abstract: The role played by the Spanish industry in the international markets during the first globalization has led to a deep discussion in the literature. Some scholars point out that, despite of weak national demand, the Spanish industrial firms chose to focus on the domestic market rather than competing in the international markets. We dispute that hypothesis by analysing Spanish exports on the margins and in a highly disaggregated manner in 1890 and 1913. We find that manufacturing firms were highly dynamic finding out several new external markets and exporting new products. Nevertheless, the new markets were characterized by low potential demand due to both size and income. Last, we use the diplomatic network per country as well as several consulate reports to propose that Spanish firms were missing many market opportunities. This could be explained by a lack of diplomacy, emigration, insufficiency of propaganda or credit restriction to export.

Keywords: first globalization; international trade; Spanish industrialization (search for similar items in EconPapers)
JEL-codes: F14 N63 N73 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2021-09
New Economics Papers: this item is included in nep-his, nep-int and nep-isf
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