Policy Research in Macroeconomics

Spain and Britain’s Informal Empire, 1808 to 1936

November 2015

For a century and a half after its defeat in the Napoleonic Wars Spain lay in the shadow of Britain’s Empire and its industrial revolution.  Like many other parts of the world, notably East Asia and South America, it was never part of the formal Empire but like them, it was subject to Britain’s hegemonic domination of world trade, finance and investment. 

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