Economic Growth, Technology Transfer and Convergence in Spain, 1960–1973

Abstract

[EN] The chapter examines Spain’s exceptional economic growth between 1960 and 1973 — a period known as the “Spanish miracle” — and explores how technology transfer and convergence processes contributed to closing the technological gap with advanced economies. Through a growth accounting exercise, the authors identify the role of capital accumulation, labour-quality improvements and total factor productivity (TFP) in Spain’s catching-up process. They argue that convergence required not only adoption of capital but also assimilation of technology and improvements in human capital and institutions.