Institutional Change of the Spanish Economy from Francoism to Democracy: A Historical Institutional Analysis
Keywords:
institutional change, State, Francoism, new institutional economics.Abstract
Institutions have returned to the research agenda of social sciences on renewedtheoretical foundations. The new institutional economics and the historical and comparativeinstitutional analysis have made theoretical contributions on the historical, political,and economic role of institutions, with Douglass North and Avner Greif being the maincontributors. This paper analyzes the process of institutional change of the Spanisheconomy in the transition from Francoism to democracy. The analysis studies the existence of a Northian predatory State in the self-undermining institutional equilibrium ofthe early Francoism, and it follows the path of institutional change towards the self-reinforcinginstitutions with a contractual State on the democratic stage
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