In this paper we analyze the effect of bank capital on lending expansion and contraction for nearly 150 years in Spain … will help to smooth the credit cycle. The experience of Spain over more than a century, with very marked lending cycles …

contraction for nearly 150 years in Spain. We first build a measure of capital ratio (i.e., the capital to assets ratio) for Spain … narrative identification of banking crises in Spain. Afterwards, we run a proper econometric test to analyze bank capital levels …

In the last eight centuries there have been hundreds of banking crises throughout the entire planet. Spain has not been … jeopardized the stability of the whole financial structure. This paper examines two of the most severe banking crises of Spain …. The 1866 crisis, one of the most severe of contemporary Spain, wiped out half of the banks and credit companies. The …

centuries in order to detect possible specific elements of banking instability in Spain. The results show that the specific … characteristics of the Spanish crisis are more related to the peculiar monetary policy followed by Spain and its distinctive …

In a country with a low endowment of capital resources, like Spain, should be very important to know the regional …

. This development has tended to fuel the financial crisis even further in Spain. In Spain, however, whereas most savings …