Summary - TST 18


TST 18

Albert A. Broder
Les investissements étrangers en Espagne au XIXe siècle: causes et mécanismes d’une dépendance. Un essai d’histoire économique à partir d’une comparaison des systèmes bancaires

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Key Words: History; History of the Banking; Foreign Investments; Railways; Financing; Transfer of Technology.

[ Abstract ]

This essay, which is the result of a lecture, aim at shedding some light on the role of French investments in the Spanish economy of the nineteenth century, especially in the establishment of the rail network, starting from from the fact that this important project is an encounter between the belief of the french in their technical and financial superiority and the spanish lack of capital available for this purpose. We tried, through successive synthesis of the role of the bank in Britain, Germany and France into railway investment, to highlight the constraints on capital of the Spanish economy and measure the medium term impact on the French industry. The essay concludes by stating some of the reasons for the extinction of this kind of French investment and the near absence of French capital in the twentieth century technological industry in Spain.