Spain's economic transition contributes to our understanding of Spain as a country and as an actor in the international system. Reformists in Spain have long worked towards bringing the country's economy in line with the rest of Europe, since the late 19th century (Royo, 2006). The Franco regime resulted in stunted economic growth. After decades under such rule, Spain was enthusiastic to modernize its economy. A former world power, Spain had fallen by the wayside economically and politically during the 20th century. The relationships that the nation had established with Latin America had become relatively meaningless, and Spain was considered a backwater within Europe. Even before the fall of Franco, steps were taken to open the economy. After the fall of Franco the pace of reforms accelerated further. But ascension into the EU provided Spain with the impetus to make bold reforms, and it was these that allowed for the...
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