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Why Banks Fail

The Political Roots of Banking Crises in Spain

  • Book
  • © 2020

Overview

Authors:
  1. Sebastián Royo

    1. Suffolk University, Boston, USA

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  • Examines the political roots of banking crises in Spain

  • Analyses the process of political bargains in which parties with different interests come together to form coalitions that determine banks’ outcomes

  • Links banking crises to the country’s larger institutional malaise

  • Argues that Spanish banks’ political connections are ultimately responsible for the sector’s skewed lending practices

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Table of contents (8 chapters)

  1. Front Matter

    Pages i-xxv
    Download chapter PDF

  2. Introduction: Spanish Banking—How Do We Explain a History of Fragility?

    • Sebastián Royo
    Pages 1-51

  3. The Origins of the Spanish Banking System

    • Sebastián Royo
    Pages 53-78

  4. Spanish Banking in the Twentieth Century

    • Sebastián Royo
    Pages 79-118

  5. From Boom to Bust: The Economic Crisis in Spain 2008–2013

    • Sebastián Royo
    Pages 119-140

  6. The Global Financial Crisis and the Spanish Banking System: Explaining Its Initial Success (2007–2010)

    • Sebastián Royo
    Pages 141-172

  7. A ‘Ship in Trouble’: The Spanish Banking System in the Midst of the Global Financial System Crisis (2010–2012)

    • Sebastián Royo
    Pages 173-212

  8. Bank Bargains and Institutional Degeneration

    • Sebastián Royo
    Pages 213-245

  9. Conclusions: The Implications of ‘Bank Bargains’ for Democratic Politics

    • Sebastián Royo
    Pages 247-311

  10. Back Matter

    Pages 313-344
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Keywords

About this book

This book examines the political roots of banking crises in Spain. It focuses on the process of political bargains in which parties with different interests come together to form coalitions, and it shows how these coalitions have determined banking outcomes and caused banking crises in Spain. In particular, it analyzes the 2008 Spanish banking crisis and shows how Spanish banks and related savings institutions contributed significantly to the challenges that led to the crisis, including the fueling of a large property bubble – by channeling tremendous credits to the construction and real estate sectors, while starving the country’s productive sectors.  Accordingly, the book links banking crises to the country’s larger institutional malaise, placing the solution not only in the hands of the banks, but also the political institutions that influence them.

Authors and Affiliations

  • Suffolk University, Boston, USA

    Sebastián Royo

About the author

Sebastián Royo is Visiting Scholar at Harvard University’s Minda de Gunzburg Center for European Studies, and Professor at the Department of Political Science & Legal Studies at Suffolk University, USA.

Bibliographic Information

  • Book Title: Why Banks Fail

  • Book Subtitle: The Political Roots of Banking Crises in Spain

  • Authors: Sebastián Royo

  • DOI: https://doi.org/10.1057/978-1-137-53228-2

  • Publisher: Palgrave Macmillan New York

  • eBook Packages: History, History (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s) 2020

  • Hardcover ISBN: 978-1-349-95990-7Published: 28 June 2020

  • Softcover ISBN: 978-1-349-95991-4Published: 28 June 2021

  • eBook ISBN: 978-1-137-53228-2Published: 27 June 2020

  • Edition Number: 1

  • Number of Pages: XXV, 344

  • Number of Illustrations: 1 b/w illustrations, 16 illustrations in colour

  • Topics: Science, Humanities and Social Sciences, multidisciplinary

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