Spanish economic miracle
E468596
The Spanish economic miracle was a period of rapid industrialization and sustained economic growth in Spain during the 1960s and early 1970s that transformed the country from a largely agrarian economy into a modern industrial state.
Statements (54)
| Predicate | Object |
|---|---|
| instanceOf |
economic phenomenon
ⓘ
period of economic growth ⓘ |
| alsoKnownAs |
Spanish miracle
NERFINISHED
ⓘ
milagro económico español NERFINISHED ⓘ |
| associatedWith |
Opus Dei technocrats
ⓘ
Spanish technocrats ⓘ |
| country | Spain ⓘ |
| demographicEffect |
growth of major cities
ⓘ
rural depopulation ⓘ |
| economicPolicy |
currency stabilization
ⓘ
development of industrial estates and development poles ⓘ liberalization of the Spanish economy ⓘ opening to foreign investment ⓘ promotion of exports ⓘ reduction of state intervention in markets ⓘ tourism promotion ⓘ |
| endTime | 1973 ⓘ |
| followedBy | 1973 oil crisis impact on Spain ⓘ |
| governmentTypeDuringPeriod | authoritarian regime ⓘ |
| influencedBy |
foreign capital inflows
ⓘ
growth of international tourism to Spain ⓘ remittances from Spanish emigrants ⓘ |
| internationalContext | postwar Western European economic expansion ⓘ |
| laborMarketEffect |
decline in agricultural employment
ⓘ
increase in industrial employment ⓘ increase in service employment ⓘ |
| mainCharacteristic |
decline of agriculture as share of GDP
ⓘ
expansion of manufacturing and services ⓘ rapid industrialization ⓘ structural transformation of the economy ⓘ sustained high economic growth ⓘ |
| politicalContext | Francoist Spain NERFINISHED ⓘ |
| precededBy | autarkic economic policies of early Franco regime ⓘ |
| resultedIn |
convergence towards Western European income levels
ⓘ
expansion of the middle class ⓘ growth of automobile industry ⓘ growth of construction sector ⓘ growth of tourism sector ⓘ improvement in infrastructure ⓘ increase in per capita income ⓘ increased foreign direct investment ⓘ increased foreign trade ⓘ mass internal migration from rural to urban areas ⓘ rapid GDP growth ⓘ reduction in relative economic isolation ⓘ urbanization ⓘ |
| sectorMostAffected |
construction
ⓘ
industry ⓘ services ⓘ tourism ⓘ |
| startTime | 1959 ⓘ |
| timePeriod |
1960s
ⓘ
early 1970s ⓘ |
| triggeredBy | 1959 Stabilization Plan NERFINISHED ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.