Scientific article
Open access

The Bank of Spain: A National Financial Institution

Published inJournal of European economic history, vol. XIII, no. 1, p. 11-45
Publication date2013

This paper explains the process by which the Bank of Spain became a national bank, first by obtaining the monopoly of note issue in 1874 and then by extending its sphere of financial action by creating the country's only network of bank branches before 1900. The implementation of a “unified or national banknote” in 1884 and the creation of a system of free transfers for its clients were also decisive steps towards the Bank's transformation from a local Madrid-based institution into a Spanish national institution. The paper also argues that the transformation of the Bank of Spain into a genuine national financial institution contributed to the modernization of the Spanish administrative structure.

Citation (ISO format)
MARTÍN-ACEÑA, Pablo, MARTINEZ-RUIZ, Elena, NOGUES-MARCO, Pilar. The Bank of Spain: A National Financial Institution. In: Journal of European economic history, 2013, vol. XIII, n° 1, p. 11–45.
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Article (Published version)
  • PID : unige:77465
ISSN of the journal0391-5115

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