The Spanish pattern of economic growth during the last two centuries is quite unique. In the nineteenth century the country remained outside the process of industrialization, but during the twentieth century he has joined the smaU group of developed economies. This artide tests the existence of discontinuities between 1850-1936 in the seríes of PNB, industríal production and prívate and public investment by utilizing recent developments in the econometríc analysis associated with the work of Perron and Zivot and Andrews. The resuhs confírm the continuity of the Spanish growth duríng the decades considered. However, they also show two breakpoint years: 1870 in the serie of industríal production and 1919 in the data of public investment.... [Leer más...]