Boom and Bust of the spanish Economy

Tomer Shachmurove () and Yochanan Shachmurove
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Tomer Shachmurove: Pennsylvania State University

PIER Working Paper Archive from Penn Institute for Economic Research, Department of Economics, University of Pennsylvania

Abstract: Spain has experienced many financial crises through its history. These financial crises have varied origins. However, they do have common threads. The current recession and subsequent debt crisis follow the same pattern. The fiscal and monetary policies of the Spanish government have played a role in creating and prolonging the boom and bust cycles. Government spending, government regulation, credit institutions, budget deficits, the political climate, and international trade are discussed to illuminate the causes and effects of these business cycles. The Spanish government can take action to improve the economy and to lessen the effects of its financial crises.

Keywords: Spain; Spanish Economy; Financial Crises, Federal Budget Deficit, Banking Crises, Subprime Mortgage; Spanish Industrial Revolution; Economic History; Political Economy; International Trade; Government Regulation (search for similar items in EconPapers)
JEL-codes: E0 E3 E44 E5 E6 F0 G0 G18 G38 N0 N1 N2 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2011-05-03
New Economics Papers: this item is included in nep-his, nep-mac and nep-reg
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