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The Spanish economy began to fall behind the British economy in terms of GDP per capita during the middle of the seventeenth century. The explanations for this divergence are unclear, but "the divergence comes too late to have any medieval origins, whether cultural or institutional" and "it comes too early...
The Price Revolution, sometimes known as the Spanish Price Revolution, was a series of economic events that occurred between the second half of the 16th century and the first half of the 17th century, and most specifically linked to the high rate of inflation that occurred during this period across Western Europe. Prices rose on average roughly ...
Concurrent with the military and economic issues there was a depopulation in metropolitan Spain. The Spanish decline was a historical process simultaneous to the purpoted [2] general crisis of the 17th century that swept most of Eurasia, but which was especially serious for Spain.
The Spanish institutions of the Ancien Régime were the superstructure that, with some innovations, but above all through the adaptation and transformation of the political, social and economic institutions and practices pre-existing in the different Christian kingdoms of the Iberian Peninsula in the Late Middle Ages, presided over the historical period that broadly coincides with the Modern ...
This was unsustainable, and Spanish kings were forced to declare sovereign defaults nine times between 1557 and 1666. [10] Another prominent internal factor was the Spanish economy's dependence on the export of luxurious Merino wool, the demand of which was replaced by cheaper textiles from England and the Netherlands. A reliance on revenue ...
Spanish miracle: A period of economic growth began. 1973: Spanish miracle: The period ended. 1975: History of Spain (1975–present) 6 November: The Green March forced Spain to hand over its last remaining colonial possession, Spanish Sahara, to Morocco. 20 November: Francisco Franco died; the monarchy was restored to Juan Carlos I of Spain ...
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The economy of Spain is a highly developed social market economy. [29] It is the world's 15th largest by nominal GDP and the sixth-largest in Europe.Spain is a member of the European Union and the eurozone, as well as the Organization for Economic Co-operation and Development and the World Trade Organization.