RT Journal Article
T1 Revisiting francoist developmentalism: the influence of wages in the Spanish growth model
A1 Cárdenas Del Rey, Luis
A1 Fernández Sánchez, Rafael
AB This article studies the growth of the Spanish economy during 1957–1975, known as the period of Francoist developmentalism or the Technocratic Stage of Francoism. We aim to contribute to an explanation of the intense growth in domestic demand and investment that occurred during that time, which remains unstudied despite many analyses of the “Spanish economic miracle”. Following Bhaduri & Marglin's models, our main thesis holds that an increase in the wage share, resulting from the greater bargaining power of workers, had a positive effect on growth, productivity, and investment; we suggest the existence of a wage-led model, including feedback effects that such a model of growth entails. This hypothesis is tested, and confirmed, using a Vector Autoregressive (VAR) model.
PB Elsevier
SN 0954-349X
YR 2020
FD 2020-03
LK https://hdl.handle.net/20.500.14352/97387
UL https://hdl.handle.net/20.500.14352/97387
LA eng
DS Docta Complutense
RD 3 abr 2026