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Word Count: 953
Spain in the 1960s undoubtedly experienced an economic boom however the question examined requires investigation into how far this rapid progression was due to circumstances outside of the country itself or whether Franco and his policies effected the boom However whilst studying Spanish economy of the 1950s and 1960s it has become increasing difficult to separate the effects of external circumstances and internal circumstances as it seems that the success was counter-reliant According to Raymond Carr 1980 there were three sources which stimulated the Spanish economy Those being loans from foreign countries the admittance of tourists and Spaniards were permitted to work abroad which resulted in money being sent back to families in Spain which was then was reintroduced into the economy Stanley Payne 1968 also argues that it is reasonable to realize that only the rise of the tourist trade and large-scale assistance of the United States permitted the unbalanced economy of Spain to move as far as it had p 57 However despite the increase in imports and credit from abroad which undoubtedly helped improve Spains situation and provided a base for the period of expansion it is important to recognise the changes in government at the time which opened up the country to the world Franco was a dictator who was economically illiterate Arango 1995 but despite his reluctance to change policy he also understood the need to develop the economy further In doing so he appointed new economic ministers known as the Opus Dei who aimed to improve the export-import balance reduce the internal and corruptive controls of the government A Stabilization and Liberalization Plan was finally adopted by Franco and his government under the persuation of the new ministers this plan was also backed by the World Bank the IMF and OECD The Stabilization Plan meant that Franco was able to open the Spanish economy to the world This plan proved successful with the national budget balancing
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