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This article is about an economic boom from 1959 to 1974. For more recent economic developments, see Economy of Spain.
The Spanish miracle (Spanish: el milagro español) refers to a period of exceptionally rapid development and growth across all major areas of economic activity in Spain during the latter part of the Francoist regime, 1959 to 1974,[1] in which GDP averaged a 6.5 percent growth rate per year,[2] and was itself part of a much longer period of an above average GDP growth rate from 1951 to 2007.[3] The economic boom came to an end with the 1970s international oil and stagflation crises that disrupted the industrialised world although several scholars have argued that "liabilities accumulated during years of frenzied pursuit of economic development" were in fact to blame for the slow economic growth of the late 1970s.[4]
The 142 m Torre de Madrid, built in 1957, heralded the "Spanish Miracle".
After a very slow recovery from the devastation of the civil war of 1936 - 1939, the "economic miracle" was initiated by the reforms promoted by a group of economic "technocrats" who, with the backing of Francisco Franco, put in place new policies for the economic development of Spain. The "technocrats", many of whom were members of Opus Dei, were a new breed of politician that had replaced the old Falangist guard.[5]
Industrializationedit
A monument in Fuengirola, Spain for the SEAT 600, a symbol of the Spanish miracle[6]
The rapid economic expansion reinvigorated old industrial areas: the Basque Country and Ferrol northern coast (iron and steel, shipbuilding), and in and around Barcelona (machinery, textiles, cars and petrochemicals). It also drove an enormous expansion in refining, petrochemicals, chemicals and engineering. To help achieve the rapid development, there was massive government investment through key state-owned companies like the national industrial conglomerate Instituto Nacional de Industria, the mass market car company SEAT in Barcelona, the big steel plant of Ensidesa in Avilés and the shipbuilder Empresa Nacional Bazán. With heavy protection from foreign competition in the domestic Spanish market, those companies led the industrialisation of the country, restoring the prosperity of industrial areas like Barcelona and Bilbao and creating new industrial areas, most notably around Madrid. Although there was economic liberalisation in the period, key enterprises remained under state control.
Automotive industryedit
The automotive industry was one of the most powerful locomotoras (locomotives) of the Spanish Miracle. From 1958 to 1972, it grew at a yearly compound rate of 21.7%. In 1946, there were only 72,000 private cars in Spain, but in 1966, there were over 1 million.[7] That growth rate had no equal in the world. The icon of the desarrollo was the SEAT 600 car, produced by the Spanish state company SEAT. More than 794,000 of them were made between 1957 and 1973. At the beginning of that period, it was the first car for many Spanish working-class families. However, at the end of the period, it was the second car for many more.
^Leandro Prados de la Escosura: Spanish economic growth in the long run: What historical national accounts show, 2016
^Leandro Prados de la Escosura: Spanish economic growth in the long run: What historical national accounts show, 2016
^Leandro Prados de la Escosura: Spanish economic growth in the long run: What historical national accounts show, 2016
^De la Torre, Joseba; García-Zúñiga, Mario (2014). "Was it a Spanish Miracle? Development Plans and Regional Industrialization, 1950–1975". In Grabas, Christian; Nützenadel, Alexander (eds.). Industrial Policy in Europe after 1945: Wealth, Power and Economic Development in the Cold War. Palgrave Macmillan. pp. 162–183. doi:10.1057/9781137329905. ISBN978-1-137-32990-5.
^Jensen, Geoffrey. "Franco: Soldier, Commander, Dictator". Washington D.C.: Potomac Books, Inc., 2005. p. 110-111.
^Fernández, Fernando (14 November 2008) El coche como símbolo del declive ABC opinión.
^J.L. García Ruiz, "Barreiros Diesel y el desarrolo de la automoción en España" (PDF).
November 11, 2023
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You can help expand this article with text translated from the corresponding article in Spanish September 2022 Click show for important translation instructions View a machine translated version of the Spanish article Machine translation like DeepL or Google Translate is a useful starting point for translations but translators must revise errors as necessary and confirm that the translation is accurate rather than simply copy pasting machine translated text into the English Wikipedia Consider adding a topic to this template there are already 5 124 articles in the main category and specifying topic will aid in categorization Do not translate text that appears unreliable or low quality If possible verify the text with references provided in the foreign language article You must provide copyright attribution in the edit summary accompanying your translation by providing an interlanguage link to the source of your translation A model attribution edit summary is Content in this edit is translated from the existing Spanish Wikipedia article at es Milagro economico espanol see its history for attribution You should also add the template Translated es Milagro economico espanol to the talk page For more guidance see Wikipedia Translation This article is about an economic boom from 1959 to 1974 For more recent economic developments see Economy of Spain The Spanish miracle Spanish el milagro espanol refers to a period of exceptionally rapid development and growth across all major areas of economic activity in Spain during the latter part of the Francoist regime 1959 to 1974 1 in which GDP averaged a 6 5 percent growth rate per year 2 and was itself part of a much longer period of an above average GDP growth rate from 1951 to 2007 3 The economic boom came to an end with the 1970s international oil and stagflation crises that disrupted the industrialised world although several scholars have argued that liabilities accumulated during years of frenzied pursuit of economic development were in fact to blame for the slow economic growth of the late 1970s 4 The 142 m Torre de Madrid built in 1957 heralded the Spanish Miracle Contents 1 Initiation of boom 2 Industrialization 2 1 Automotive industry 3 See also 4 ReferencesInitiation of boom editMain article Stabilization Plan After a very slow recovery from the devastation of the civil war of 1936 1939 the economic miracle was initiated by the reforms promoted by a group of economic technocrats who with the backing of Francisco Franco put in place new policies for the economic development of Spain The technocrats many of whom were members of Opus Dei were a new breed of politician that had replaced the old Falangist guard 5 Industrialization edit nbsp A monument in Fuengirola Spain for the SEAT 600 a symbol of the Spanish miracle 6 The rapid economic expansion reinvigorated old industrial areas the Basque Country and Ferrol northern coast iron and steel shipbuilding and in and around Barcelona machinery textiles cars and petrochemicals It also drove an enormous expansion in refining petrochemicals chemicals and engineering To help achieve the rapid development there was massive government investment through key state owned companies like the national industrial conglomerate Instituto Nacional de Industria the mass market car company SEAT in Barcelona the big steel plant of Ensidesa in Aviles and the shipbuilder Empresa Nacional Bazan With heavy protection from foreign competition in the domestic Spanish market those companies led the industrialisation of the country restoring the prosperity of industrial areas like Barcelona and Bilbao and creating new industrial areas most notably around Madrid Although there was economic liberalisation in the period key enterprises remained under state control Automotive industry edit The automotive industry was one of the most powerful locomotoras locomotives of the Spanish Miracle From 1958 to 1972 it grew at a yearly compound rate of 21 7 In 1946 there were only 72 000 private cars in Spain but in 1966 there were over 1 million 7 That growth rate had no equal in the world The icon of the desarrollo was the SEAT 600 car produced by the Spanish state company SEAT More than 794 000 of them were made between 1957 and 1973 At the beginning of that period it was the first car for many Spanish working class families However at the end of the period it was the second car for many more See also editEconomic history of Spain Economic miracle Instituto Nacional de Industria Italian economic miracle Japanese economic miracle Pegaso SEAT Spain under FrancoReferences edit Leandro Prados de la Escosura Spanish economic growth in the long run What historical national accounts show 2016 Leandro Prados de la Escosura Spanish economic growth in the long run What historical national accounts show 2016 Leandro Prados de la Escosura Spanish economic growth in the long run What historical national accounts show 2016 De la Torre Joseba Garcia Zuniga Mario 2014 Was it a Spanish Miracle Development Plans and Regional Industrialization 1950 1975 In Grabas Christian Nutzenadel Alexander eds Industrial Policy in Europe after 1945 Wealth Power and Economic Development in the Cold War Palgrave Macmillan pp 162 183 doi 10 1057 9781137329905 ISBN 978 1 137 32990 5 Jensen Geoffrey Franco Soldier Commander Dictator Washington D C Potomac Books Inc 2005 p 110 111 Fernandez Fernando 14 November 2008 El coche como simbolo del declive ABC opinion J L Garcia Ruiz Barreiros Diesel y el desarrolo de la automocion en Espana PDF Retrieved from https en wikipedia org w index php title Spanish miracle amp oldid 1175765315, wikipedia, wiki, book, books, library,
