This book analyses the formation of the Spanish banking system. It provides a general overview of European financial systems in operation during the mid-nineteenth century, followed by a detailed analysis of the economic and institutional changes that gave rise to a new form of banking in Spain.
The chapters analyse changes on banking regulation; study the social origin of banks’ promoters; investigate the economic results of banks; and evaluate the interaction between banks and the economy as a whole. Finally, the causes, extent and consequences of monetary plurality in Spain and its European context are discussed. As such, this book covers the gap that exists in the Spanish banking historiography. Until now only the Bank of Spain and its predecessors had been adequately examined. As the Bank of Spain acted mostly as the state’s financial agent, we know very little about private-sector financing. This text provides data and analysis for a more comprehensive view of early Spanish financial development in a comparative European framework.
The Origins of Modern Banking in Spain should be considered essential reading for financial history students and scholars, as well as anybody interested in longview approaches to modern financial development.
Introduction. Carles Sudrià and Yolanda Blasco-Martel 1. Money and banking in Europe, 1700–1890: the formation of new financial systems. Carles Sudrià 2. Banking regulation and the emergence of provincial banks in Spain. Yolanda Blasco-Martel 3. Bourgeoisie and provincial banks: social origins of the new banking elite. Yolanda Blasco-Martel 4. A profitability approach to Spanish banks’ performance: earnings and assets. Mercedes Bernal Lloréns and Juan Pedro Sánchez-Ballesta 5. Provincial banks of issue and the Spanish economy: money and credit. Carles Sudrià 6. The unexpected end of monetary plurality: a premature demise? Lluís Castañeda 7. A final assessment: Spanish banking development in nineteenth-century Europe. Carles Sudrià