Central banking in the iberian peninsula : a comparisonReport as inadecuate




Central banking in the iberian peninsula : a comparison - Download this document for free, or read online. Document in PDF available to download.

Editor: Universidad Carlos III de Madrid. Departamento de Historia Económica e Instituciones

Issued date: 2007-10

Serie-No.: Working papers in Economic History07-15

Keywords: Central banks , Monetary policy , Gold standard , Portugal , Spain

JEL Classification: N13 , N23 , E58

Rights: Atribución-NoComercial-SinDerivadas 3.0 España

Abstract:The paper explores the similiraties and differences between the origin, behaviorand evolution of the central banks of Portugal and Spain. Portugal and Spainare two countries that share the same peninsular space in the west corner ofEurope. Though differeThe paper explores the similiraties and differences between the origin, behaviorand evolution of the central banks of Portugal and Spain. Portugal and Spainare two countries that share the same peninsular space in the west corner ofEurope. Though different in size and population, the political, social andeconomic history of both nations offer more similarities than differences. In thefinancial sphere, he resemblances are remarkable. Both nations exhibit verylow levels of financial intermediation, as measured by the ratio between totalbank deposits and GDP. Another common feature of both Iberian nations is thedominance exerted by a sole institution. However, we also find somedivergences between the financial structures of the two countries that areworth noting. Three differences merit our particular attention in this paper. Thefirst diversity refers to the distinct composition of the quantity of money. Themonetary regime is the second difference between the two countries (Portugaljoined the gold standard while Spain remained off the gold standard). Finally,the Bank of Portugal and the Bank of Spain exhibit also significant contrasts intheir behavior as central banks.+-





Author: Martín-Aceña, Pablo

Source: http://e-archivo.uc3m.es


Teaser



Universidad Carlos III de Madrid Repositorio institucional e-Archivo http:--e-archivo.uc3m.es Colecciones multidisciplinares IFCS - Working Papers in Economic History.WH 2007-10 Central banking in the iberian peninsula : a comparison Martín-Aceña, Pablo http:--hdl.handle.net-10016-1068 Descargado de e-Archivo, repositorio institucional de la Universidad Carlos III de Madrid UNIVERSIDAD CARLOS III DE MADRID Working Papers in Economic History October 2007 WP 07-15 CENTRAL BANKING IN THE IBERIAN PENINSULA:A COMPARISON Pablo Martín Aceña Abstract The paper explores the similiraties and differences between the origin, behavior and evolution of the central banks of Portugal and Spain.
Portugal and Spain are two countries that share the same peninsular space in the west corner of Europe.
Though different in size and population, the political, social and economic history of both nations offer more similarities than differences.
In the financial sphere, he resemblances are remarkable.
Both nations exhibit very low levels of financial intermediation, as measured by the ratio between total bank deposits and GDP.
Another common feature of both Iberian nations is the dominance exerted by a sole institution.
However, we also find some divergences between the financial structures of the two countries that are worth noting.
Three differences merit our particular attention in this paper.
The first diversity refers to the distinct composition of the quantity of money.
The monetary regime is the second difference between the two countries (Portugal joined the gold standard while Spain remained off the gold standard).
Finally, the Bank of Portugal and the Bank of Spain exhibit also significant contrasts in their behavior as central banks. Keywords: central banks, monetary policy, gold standard, Portugal, Spain. JEL Classification: : N13, N23, E58. Pablo Martín Aceña: Departamento de Fundamentos de Economía e Historia Económica. Facultad de Ciencias Económicas y Empr...





Related documents